Moderating their greed | Inquirer Opinion

Moderating their greed

/ 05:01 AM June 30, 2022

In the June 27 editorial (“Brace for the worst”), Bangko Sentral ng Pilipinas (BSP) was said to be “not worried” about the peso-dollar exchange rate of P54.98 to $1, “the lowest in 17 years.” BSP Deputy Governor Francisco Dakila Jr. explained: “We can see that the recent weakening of the peso along with other currencies in the region is consistent with more aggressive monetary policy normalization in advanced economies, particularly the US Fed.” So, for instance, does the BSP worry about the unprecedented spike in oil products? Of course not. Its officials use service vehicles, charging all expenses for gas and maintenance to us, the taxpayers!

It is nothing short of scandalous that former BSP governor Benjamin Diokno earned more than P41 million in 2021, or almost P3.5 million per month, for his “public service.” Dakila’s own monthly paycheck was about P1.5 million. He and his super-rich BSP colleagues have no problem coping with the astronomical rise in the prices of practically everything in the market. The editorial aptly pointed out the elephant in the room: Ordinary mortals “can only brace themselves from the impact of a weakening peso and surging fuel prices as there is very little the government can do to address their underlying external causes. Preparing for the worst is the call of the times.”


So, how about BSP officials and other “public servants” paid more than P1 million per month “moderate their greed” in times like this? Most Filipinos can survive with just a fifth of what they rake in every month. And isn’t the government practically bankrupt already? How come megatons of money are always available to squander on bureaucrats who have not made life for Filipinos any better? Saan ka pa makakakita ng “public servants” (mga utusan kuno) na sumusweldo ng ganoon kalaki habang “ang mga boss” kuno nila ay halos mamamatay na sa gutom dahil sa kakulangan ng perang pambili ng makakain? (Where else can you find so-called public servants earning so much while their bosses—the public—are almost dying from hunger?)

Carmela N. Noblejas,[email protected]


Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Bangko Sentral ng Pilipinas
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2022 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.