Dominguez declines GlobalMarkets citation

MANILA — Finance Secretary Carlos Dominguez III has decided not to accept an award naming him as among the current exemplary Finance Ministers in the world, saying he is just doing his job.

In an e-mail to Dominguez dated August 21, 2019, a copy of which was sent to journalists Monday, GlobalMarkets/GlobalCapital Managing Editor Toby Fildes said the newspaper, which is published for the International Monetary Fund/World Bank Annual Meeting, has named Dominguez the “Finance Minister of the Year for Asia Pacific.”

“You have been a very safe pair of hands in a tough 12-month period for the government of the Philippines. You’ve been left alone to fight for the President’s tax reform packages, to oversee the ‘Build, Build, Build’ campaign, which goes on despite perennial tussles over the budget between parliament and Senate,” it said.

The letter pointed out that while the Finance chief is “close to Duterte, even the longest and most cordial relationships can go sour when politics intrudes.”

“…but that hasn’t happened. With your CEO (chief executive officer) style, you have kept your head down and your focus on keeping the Philippines economy on an upward path,” it said.

The citation is scheduled to be presented at the GlobalMarkets Awards ceremony on October 19 at the Ballroom in National Press Club (NPC) in Washington DC.

Dominguez, through his chief of staff, Anita Linda Aquino, thanked the publication for the recognition.

She, however, said that it is “with deep regret that as a matter of course, Secretary Dominguez does not accept awards in the performance of his duties.”

“Clearly, the efforts exerted by the team which Secretary Dominguez is part of, is bearing fruit in various aspects, such as the Tax Reform initiative and the Build, Build, Build program,” she added.

For one, the Tax Reform for Acceleration and Inclusion (TRAIN) law, which is the first package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP), has allowed the government to increase revenues, and the workers with an annual income of PHP250,000 and below to be exempted from paying income tax.

The law has helped boost domestic spending, as well as additional funds for the administration’s infrastructure program. Joann Villanueva/PNA- northboundasia.com