Aspirations
It’s the time of the year when we take stock of ourselves and think about our most desired aspiration for the coming year. Nope, Virginia, it’s not the usual New Year’s resolution, which we normally break, but instead, our wish list.
Bangko Sentral ng Pilipinas (BSP) Governor Felipe “Philip” M. Medalla is selfless that his aspiration is beyond his persona. His aspirations could be taken to mean a legacy that once you hear the words such could be equated to his leadership, no matter how brief it is as the chief steward of the BSP.
“I have nothing to ask for anymore at this stage of my life,” Gov. Philip tells me over dinner of escargot wined down with Prosseco at a posh Swiss restaurant in Makati. Least he be criticized, the food and the wine were my choice and the restaurant as well.
Fair enough. Come to think of it, this seasoned economist, and more importantly an educator being a professor, can easily be gleaned on the way he explains to journalists the price movement developments and interest rate, has gone a long way in his government career.
An economics professor at the University of the Philippines, Medalla served as the ninth Socio-economic Planning Secretary and ended up in the corridors of the BSP as a monetary board member for almost 11 years, before he was appointed governor, vice Benjamin E. Diokno, who crossed over to the other side of the BSP complex as finance secretary.
He proceeded by sharing his two ardent aspirations: one is to ensure that in the last months of his term as BSP governor the polymer currency notes become more acceptable and widely circulated; and second, make sure that the construction of the new BSP building that sits on a 31.2-hectare complex in New Clark City will proceed as scheduled.
Although the new complex is not his initiative, I fully understand where he is coming from, recalling the museum that would have been constructed within the complex of the Philippine International Convention Center, which would house the various art collections of the BSP. This was a project of then Gov. Amando M. Tetangco but was shelved altogether.
The new building in Clark will house the Currency Printing Plant with a budget of P25 billion. Heard from the halls of the BSP that the design is near completion, paving the way for the bidding and construction.
On the acceptance of the polymer currency, the BSP should conduct a massive campaign to educate the people that the banknotes folded, though not excessively, are acceptable payment transactions.
“Ma’am, do you have any other money?” Mark inquired with his disapproving face as I handed a P1000-piso polymer note as payment for a kilo of coffee. That’s exactly how the general public views the polymer currency at the moment. The novelty of owning one, which was at the onset of its circulation, is now replaced with apprehension because of the misconception that the banknote should not be folded.
While most of us are social media aficionados, it is not always that people would access the BSP website to know more about the polymer notes. I believe the campaign should be conducted on the ground level like the QR-code when Gov. Philip's team swooped down on wet markets for more public awareness.
Its acceptability hangs in the air and this is the challenge that the President has thrown to Gov. Philip when the Chief Executive received the first set of banknotes bearing their names and signatures early this month. While he praised the BSP workforce for their “indispensable role in maintaining the integrity of the Philippine currency,” the President told the team: “I look forward for this currency gaining wider traction as we continue to transition in the use of the polymer currency furthermore. Let’s raise more awareness in the proper handling of the polymer banknote.”
As the wheels of life continue to churn, I remain positive that some things will come to pass as we all move on to welcome the coming year and be headstrong in attaining our aspirations.
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