Senator Nancy Binay on Wednesday said she may seek a bill that would require authorities to secure Congress’ approval first before changing the design of banknotes.
“I’m thinking of filing a bill na kailangan ng concurrence of Congress. Kasi, you know, in Congress, the mere renaming of national highways or even schools, dumadaan ‘yan sa Kongreso,” she said in an ANC interview.
(I’m thinking of filing a bill which will require the concurrence of Congess because the mere renaming of national highways or even schools goes through Congress.)
“So, baka for something as important as our money, baka ito kailangan ng concurrence ng Congress,” she added.
(So maybe we need the concurrence of Congress for something as important as our money.)
The Bangko Sentral ng Pilipinas (BSP) recently released the new design of the P1,000-denominated banknote. This, however, drew criticisms over the “glaring errors” and the removal of images of Filipino heroes Vicente Lim, Josefa Llanes Escoda, and Jose Abad Santos on the new design.
In the same interview, Binay questioned the BSP’s intention in removing the Filipino heroes’ faces from the new design.
“There’s two sides naman du’n sa pera. So why is there a need to remove our heroes and put ‘yung flora and fauna on the other side?” she pointed out.
“I don’t see the reason why kailangang burahin.”
(The banknote has two sides. So why is there a need to remove our heroes and put the flora and fauna on the other side? I don’t see the reason for that.)
BSP Governor Benjamin Diokno earlier said the P1,000 bill featuring heroes will continue to be in circulation, following the release of the design of the polymer banknote.
“We will not demonetize the existing 1,000-piso paper banknote. Under my watch, there will be no demonetization of any denomination,” he said.
Meanwhile, Binay said she is also considering filing a resolution calling for an investigation on the issue, which would also cover the BSP’s decision to use polymer instead indigenous materials for the banknote.
“Kung gagamit na tayo ng polymer, paano naman yung nagsu-supply ng abaca? Would that have an effect with ‘yung livelihood of our people lalo na ngayon na ang laki-laki ng unemployment?” she said.
(If we will use polymer, what would happen to the suppliers of abaca? Would that have an effect with the livelihood of our people especially now that we are facing a big unemployment problem?)
“By using ba polymer, it creates another source of income for our people. So baka [maybe] that is something that we also need to consider with the shift to another material for our money,” Binay added. —KBK, GMA News
Nancy Binay eyes bill requiring Congress’ concurrence before changing banknote’s design
Source: Pinoy Hub News
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