Issue of October 1, 2017
     
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Benguet
Ifugao
Kalinga
Mt. Province
 
OPINION
 

2017
Panagbenga Flower Festival
 
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Public urged to help address coin shortage via recirculation
by Gaby B. Keith / PIO

Mayor Mauricio Domogan signed the resolution approved by the city council urging all malls, shopping complexes, retail stores and/or their outlets and other similar establishments to politely encourage their customers and patrons to use coins and/or exchange coins at their place of business for an improved and efficient coin recollection system.

Resolution 325, s. 2017, introduced by Councilor Leandro Yangot, Jr., cites a study conducted by the Bangko Sentral ng Pilipinas revealing that an artificial shortage and ineffective circulation of coins in the country exists but declaring that there is no actual shortage of coins.

As of Dec. 31, 2016, the BSP reported there are 26.53 billion pieces of coins valued at P29.63 billion in circulation.

The resolution states that the BSP has identified reasons and causes of the perceived shortage of coins or keeping coins idle either by using these as washers, throwing away at natural pools; or hoarding inside bank vaults, piggy banks and drawers.

It added that to help promote the regular use of coins, the BSP has examined retailers and business associations that has the towering demand for coins particularly the lower-denominated ones, as major stakeholders in assuring that the public fully realize the importance of coins and inculcate the habit of regularly in paying and disbursing and giving exact change.

The resolution was based on the report and recommendation of the city council’s committee on market, trade, commerce, and agriculture.


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Venus Parkview Hotel

Congressman Mark O. Go
Department of Health – CAR
Kings College of the Philippines
Lepanto Consolidated Mining Company
Mayor Mauricio G. Domogan
Narda’s Handwoven Arts & Crafts Inc.
Philex Mining Corporation
Pines City Colleges
Province of Benguet
Sangguniang Panlungsod
SiTEL
SM City Baguio
Social Security System

Assumption Medical Diagnostic Center
Baguio Center Mall
Baguio Central University
Baguio Heart and Lung Diagnostic Center Inc.
Baguio Memorial Chapels Incorporated
Baguio Water District
BDO
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C & Triple A Supermart
Congressman Ronald M. Cosalan
Curamed Pharmacy
Data Center College of the Philippines of Baguio City Inc.
Department of Agriculture – CAR
Department of Environment and Natural Resources – CAR
Department of Trade and Industry – CAR
Department of Transportation – CAR
Easter College Incorporated
Fabulo Beauty and Image Salon
Fast East Pacific Commercial
Filipino–Japanese Friendship Association of Northern Luzon, Inc.
GMS Technology
Immigration Network Services, Inc.
La Funeraria Paz, Inc.
Maybank
Mayor Romeo K. Salda
MMS Development Training Center Corporation
Mother Earth Deli Basket
National Economic & Development Authority–CAR
NIIT
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Philippine Science High School – CARC
R.A. Gapuz Review Center
Regional Tripartite Wages and Productivity Board – CAR
Solibao – Ganza Restaurant
STI
Technical Education and Skills Development Authority

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