The 300-strong House of Representatives has expressed its condolences and sympathies to the family of the late former trade minister Roberto Ongpin, which the chamber hailed for his "indefatigable business leadership and management".
The House did so by adopting House Resolution (HR) No.766 during plenary session Tuesday afternoon, Feb. 14.
Ongpin passed away on Feb. 4 at the age of 86. The resolution noted that at 42, Ongpin was the youngest minister of trade and industry of the administration of the late former president Ferdinand Marcos Sr.
It said the late trade minister “made many contributions to the development of the country and defended the Philippine currency in the wake of the 1983 financial crisis by establishing the so-called Binondo Central Bank, a parallel exchange rate system that allowed the government to narrow the rate gap by directly intervening in black market currency prices".
It noted that after leaving government, Ongpin proved his mettle in the private sector by serving as board chairman/director of various corporations, including mining firm Atok Big Wedge, luxury resort Balesin Island Club, conglomerate San Miguel Corp., oil refiner-distributor Petron, PAL Holdings, and gaming-internet company PhilWeb.
“The indefatigable business leadership and management he demonstrated in the private sector highlighted his keen business acumen, perseverance in work, integrity, and professionalism,” the resolution stated.
“As a philanthropist, the Honorable Ongpin relentlessly pursued his advocacy in education by giving full scholarships to qualified and deserving Ateneo University students throughout the country,” it said.
The House stressed that the death “of this remarkable and respected man is a significant loss to his family, friends and colleagues in the government and private sectors, with whom he dutifully served with professionalism, competence and integrity".
Ongpin is survived by his wife Monica Arellano, his children Stephen, Anna, Michelle, and Julian, and four grandchildren.
He completed his high school at Ateneo de Manila, where he also finished his Bachelor of Science in Business Administration degree, graduating cum laude.
He earned his MBA (Master of Business Administration) from Harvard Business School in Boston, Massachusetts, United States.
As a certified public accountant and a Harvard business administration graduate, Ongpin joined SyCip Gorres Velayo, the country’s largest auditing-accounting firm, rising to become its managing partner in 1966, only two years after he joined the company.
He was then barely 30 years old.
The resolution was authored by House Speaker Martin Romualdez, Majority Leader Manuel Mannix Dalipe, Minority Leader Marcelino Libanan, Senior Deputy Majority Leader Sandro Marcos, and Tingog Party-list Reps. Yedda Marie Romualdez and Jude Acidre.