Pasay City:Manila Malacañang has reassured the business sector that the recent Cabinet reshuffle under President Ferdinand R. Marcos Jr.'s administration will not disrupt government operations or undermine investor confidence. The assurance comes amid concerns over leadership changes in key government agencies.
According to Philippines News Agency, Palace Press Officer Claire Castro emphasized that the reshuffle would not affect the functioning of the agencies as officials and personnel work collectively under a whole-of-government approach. Castro made these remarks during a press briefing at the International Media Center at the World Trade Center in Pasay City.
Business groups had expressed worries that changes in the leadership of the Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), Bases Conversion and Development Authority (BCDA), and Philippine Economic Zone Authority (PEZA) might unsettle investors and cause operational disruptions. The reshuffle saw BCDA president Joshua Bingcang transferred to PEZA, BOC Commissioner Ariel Nepomuceno moved to the BCDA, and BIR Commissioner Charlito Martin Mendoza appointed to the BOC. Additionally, Finance Undersecretary Rolando Ligon Jr. was appointed as the new head of the BIR.
Castro reiterated that the government is committed to a whole-of-government strategy to ensure smooth service delivery, improve economic performance, and enhance revenue collection. She dismissed any suggestions that the leadership changes were due to shortcomings in the affected agencies, citing ongoing improvements in the BIR and BOC.
She further stated that the transfers, such as that of Commissioner Nepomuceno, were not indicative of potential problems but rather aimed at optimizing officials' capabilities. Castro also highlighted that President Marcos is focused on ensuring the right individuals are in the right positions to drive economic growth, despite external challenges like the Middle East crisis and the El Niño phenomenon.
Regarding the Maharlika Investment Fund, Castro challenged critics to provide data supporting claims that it is not generating returns, indicating that the information available to them suggests otherwise.
