Mayor Lucilo Bayron (5th from left, wearing face mask) with officials of the Bangko Sentral ng Pilipinas. (Photo from City Mayor's Office - Puerto Princesa/Bob Ocampo)

Mayor Lucilo Bayron said that the soon-to-be-finished Bangko Sentral ng Pilipinas (BSP) building and its branch establishment in Puerto Princesa City are a big step up from the days when cash had to be flown in so banks here wouldn’t run out of reserves.

At Monday’s regular flag-raising ceremony at the Green City Hall, he said that BSP officials was in the city before the weekend to inspect the ongoing construction of their branch building in Barangay San Jose and pay him a visit.

“Nagkaroon tayo ng mga bisita, mga officials ng Bangko Sentral ng Pilipinas — siguro nakikita niyo building na ginagawa dyan na building — pambihira talaga ang Palawan at Puerto Princesa, yong ibang probinsya dyan walang Central Bank, pero tayo may sariling Central Bank,” he said.

“Hindi na siguro natin mararamdamang muli yong mga nakaraang mga taon na kapag December, lahat ng tao gustong mag-withdraw ng pera, walang perang ma-withdraw dahil walang pera sa bangko, wala yong cash,” Mayor Bayron added.

Now that the BSP will soon open a new branch building, there will be no more need for airplanes to bring cash reserves to the city and the province, he stated.

The BSP previously said that when it opens, it would serve the Mindoro-Marinduque-Romblon-Palawan (MIMAROPA) area. Its establishment will also ensure that the currency circulated in the city and province is not defaced, deformed, or mutilated, as it has been observed.

About Post Author

Previous articleTagbanua women from Brgy. Marufinas gets livelihood training from PPSRNP, DTI
Next articleJeju official eyes golf course investment in Puerto Princesa
has been with Palawan News since January 2019. She is its managing editor, overseeing and coordinating day-to-day editorial activities. Her writing interests are politics and governance, health, defense, investigative journalism, civic journalism, and the environment.