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Sen. Nancy Binay eyes invoice requiring Congress’ nod on design of banknotes



The Bangko Sentral ng Pilipinas (BSP) lately launched a brand new design of a P1,000 invoice, changing Filipino heroes—Chief Justice Jose Abad Santos, Brigadier Normal Vicente Lim, and Lady Scouts of the Philippines founder Josefa Llanes Escoda, who had been killed throughout the Japanese occupation within the Philippines—with the picture of the endangered Philippine eagle.

“There’s two sides naman dun sa pera, so why is there a have to take away our heroes and put yung natural world on the opposite facet,” Binay stated.

Senate probe

Additional, Binay raised the potential for having a Senate probe on the matter, saying the affect of the BSP’s shift to polymer in printing the brand new P1,000 payments also needs to be appeared into.

“Perhaps we will file a decision investigating [it]. That’s one other concern kasi [because] we attempt to introduce indeginious supplies to our cash so kung gagamit na tayo ng [if we’re gonna use] polymer, paano naman yung nagsu-supply ng [what will be the effect on our suppliers of] abaca?” the senator identified.

“Would that have an impact with yung livelihood of our folks? Lalo na ngayon na ang laki laki ng unemployment [Especially now with the high unemployment rate],” she added.

“Or through the use of polymer it creates one other supply of earnings for our folks. So baka [maybe] that’s one thing that we additionally want to contemplate with the shift to a different materials for our cash,’ she additionally added.

Presently, financial institution notes within the Philippines are manufactured from 80 p.c cotton and 20 p.c abaca. The BSP stated in 2010 that abaca within the Philippines has improved sturdiness and has prolonged the life span of payments.

With polymer, nonetheless, the BSP stated financial institution notes shall be “extra hygienic” as these have decrease bacterial rely than cotton-based payments.

The BSP defined that if polymer is used, a peso bill will last longer. It is usually price environment friendly, it stated.

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