The new P1,000 polymer banknote. (Palawan News file photo)

Mayor Lucilo Bayron expressed that the newly established branch of the Bangko Sentral ng Pilipinas (BSP) in Puerto Princesa will effectively resolve longstanding issues such as the circulation of old, mutilated banknotes and the scarcity of coins within the city.

He also emphasized that the problem of cash shortages experienced every December, when a high volume of people make withdrawals, will be efficiently addressed with the operation of the central bank.

“Ang magandang epekto ng meron tayong central bank dito, kapag December, panahon ng withdrawal, lahat ng tao nagwi-withdraw, nauubusan ng cash yong mga bangko natin,” Mayor Bayron told city government employees on Monday during their flag-raising ceremony.

“Natatandaan ko, there was a time na nag-rent yong central bank ng eroplano para magpadala ng pera dito. Hindi na mangyayari yon dahil may central bank na tayo dito,” he added.

During his remarks, he playfully added that the presence of the new BSP branch ensures that when residents of Puerto Princesa travel to Manila, they will no longer be instantly identified as provincial dwellers brandishing tattered bills. The circulation of fresh currency notes will prevent any assumptions about the origin of their money, presenting a more polished and uniform appearance in financial transactions.

This lighthearted comment elicited laughter from the audience, highlighting the positive impact of the BSP branch in addressing not only practical banking issues but also enhancing the overall image of the city’s residents when conducting financial transactions outside of Puerto Princesa.

“Dati kapag pupunta tayo ng Manila, alam na tayo ay taga probinsya kasi pagbunot natin ng isang daang, singkwente, o bente pesos, susmaryosep, lumang-luma. Ngayong nandyan na ang central bank, sila yong magre-retrieve ng mga old bills,” he said.

The BSP opened its new branch in Barangay San Jose on a 5,000 square-meter property at the intersection of the National Highway and Sampaloc Road.

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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.