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Manila Bulletin devider Philippines devider National devider Palace can't guarantee future of old P1,000-bills with heroes' portraits

Palace can't guarantee future of old P1,000-bills with heroes' portraits

Published Dec 14, 2021 03:46 pm

Malacañang tried to appease the public Tuesday, Dec. 14 over the backlash on the new P1,000 banknote featuring a Philippine eagle design that will be issued alongside the existing bill thas has portraits of World War II heroes Vicente Lim, Josefa Llanes Escoda, and Jose Abad Santos.

(Ali Vicoy/ File photo/ MANILA BULLETIN)

"Mananatiling in circulation naman po...Hindi po made-demonitize ang ating P1,000-bills featuring our three national heroes and martyrs (It will remain in circulation...Our P1,000-bills featuring our three national heroes and martyrs won't be demonitized)," Cabinet Secretary and Acting Presidential Spokesperson Karlo Nograles said during a virtual press conference.

Nograles repeated earlier explanations from the Bangko Sentral ng Pilipinas (BSP), which said that the P1,000-bill with the Philippine eagle front was meant to test its polymer series of banknotes.

The Palace official said the test will help validate whether or not the polymer bills are indeed "more hygienic, more environmentally-friendly, and more secure" than the current money bills. The polymer bill is basically plastic; existing bill are generally made out of cotton paper.

Although he assured that the Lim-Escoda-Abad Santos bills will remain in use, Nograles could not guarantee its continued existence upon the conclusion of the polymer test run.

"Sa pagkakaalam ko no, ang (As far as I know, the) BSP ay mayroon po silang (has a) committee or body that does the designs. So then, from there, idadaan sa proseso yan (that will go through the process). It will follow the process.

"So ayoko ring pangunahan ano ang magigng decision ng BSP with regard to--ano yung magiging design ng P1,000-bill na yan (So I don't want to preempt what the BSP will decide as to what will be the design of the polymer P1,000-bill)," the said.

The choice of design of the new P1,000-bill is not without controversy. While an iconic local animal, the eagle is also associated with presidential daughter, Davao City Mayor Sara Duterte-Carpio. Duterte-Carpio is vying for the vice-presidency in the May 2022 elections.

The polymer bill test run will begin in April.

"I don't know how many months it will take for them to be able to verify or validate yung mga advantages ng polymer (the advantages of polymer)," Nograles said.

Asked if it's the Duterte administration's new policy to "erase" national heroes from banknotes, the Cabinet Secretary stressed: "Yung (The) P1,000-bills that features our three martyrs and heroes will not be demonitized. So maliwanag po yun sa paliwanag ng BSP (That's clear in BSP's explanation)."

Nograles added that the P1,000-bill is the most counterfeited banknote in the country, being the one with the highest denomination.

"Yung (The) emphasis naman talaga ng (really of) BSP in doing this whole exercise is for security purposes apart from testing the polymer material.

"Although maraming (there are a lot of) security features naman...the BSP is constantly developing ways and means to ensure that hindi mapepeke ang bill na ito (this bill won't get faked), especially since it's our highest denomination," he further said.

Related Tags

Sara Duterte-Carpio may 2022 Karlo Nograles P1 banknotes Jose Abad Santos test run Philippine Eagle Josefa Llanes Escoda polymer 121421 000-bills BSP vicente lim
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