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We are reluctant to write negatively about the affairs of the Bangko
Sentral ng Pilipinas (BSP) whose delicate mandate is to supervise
banks and financial institutions. But we are concerned. We have
sources who say that there are some policies of the BSP that need to
be reviewed for the sake of public interest.
For instance, the BSP recently created a
separate office to monitor and supervise all banks that have run
afoul with the banking law. They gave it an unmistakable name:
“Department of Problem Banks.” This implies that they were being
placed under some kind of a blacklist. A bank that is exposed as
part of a blacklist is half-dead.
The problem with classifying banks under
“problem banks” is the automatic stigma that goes with inclusion
in the list. If a misguided element reveals that a bank is included
in the list, the reputation of that bank will suffer. It is hard to
protect secrecy if banks are classified in this manner.
That is why many good-intentioned employees of
the BSP have written the members of the Monetary Board to have these
policies changed. They are asking for a review. They said in a
letter that this policy may “prove disastrous to the BSP, the
banking community and the nation’s economy.” I was told that
this manifesto is well-circulated in the bank.
We believe there is merit in the concern of the
employees. I think they are motivated by patriotism and public
interest and would like to uphold the best system for the BSP. It is
precisely because they are professionals that they want to institute
changes in the bank operations.
The employees have another concern. They said
that there is a recent policy of hiring employees who are not
graduates of accounting as a minimum qualification for the hiring of
bank examiners. They feel this reduces a long-standing policy of the
bank. Perhaps, the BSP leadership can take a look at this new policy
since the employees’ demand is reasonable.
REFUND wants reforms
Mr. Leonard de Vera, the lawyer who formed the
E-Just Movement that opposed the amnesty for President Erap, has
come up with another cause. This time Leonard is into consumer
rights advocacy. REFUND, emerging last Monday at the Manila Hotel,
translates into “Refund Energy Fees Unjustly Debited.”
De Vera believes in free trade, hence, he does
not want any government takeover of Meralco. The government takeover
did not take place in the stockholders’ meeting of Tuesday. But de
Vera thinks Meralco should account for all the systems losses
mentioned in your bill. That should include charges in generation,
transmission, metering and the all-encompassing universal charges.
I am glad that Mr. de Vera has entered the
picture because he gives sense and logic to the suits that are being
filed. Suits these days are many. But at least, with a prestigious
lawyer filing the case, the courts will definitely take notice.
Comelec warning
The Commission on Elections should do its duty
by warning the 2010 presidential hopefuls engaged in premature
campaign. It is very obvious that these personalities are violating
the election law.
There is a legal fiction that says that these
candidates could not be charged with electioneering because they
have not filed their certificates of candidacy. This is one big
kalokohan. The Comelec must act by issuing warnings.
Still on 2010, are we going to modernize our
elections? The way we are moving, and that includes the Senate and
the House, it seems that we will continue to remain manual in that
landmark election. We should start now!
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BRIEF NOTES. Philippine Airlines is set to
acquire next year six brand-new Boeing 777-300ER to be fielded in
its trans-Pacific flights. Sources said that PAL will expanding
despite competition from US airlines and the downgrading of Manila
as destination under the Category 2 status. On the domestic front,
PAL has started to field new planes for the Boracay and Cebu routes.
President Arroyo has told CHED officials and presidents of state
colleges and universities to produce more agriculturists. This was
the major item in the Palace meeting on May 15 when the President
talked about the need for food production. When the Philippines
entered the world labor market in the 80’s, more people took
courses that are employable, thus abandoning courses in agriculture
in favor of courses needed by other countries. Here we go again. It
seems that GMA has to intervene again so that we could have
television coverage of the Beijing Olympics. Sources at the NBN
Channel 4 said that they have not been tapped to cover the Olympics.
Remember that President GMA also intervened in the Athens
Olympics’ coverage. Then who will cover?
jules42na@yahoo.com
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