BY Ben O. de Vera
Rumors of Finance Secretary Ben Diokno being kicked out of his office has become an annual tradition in the Marcos administration.
Babbler said Diokno, who was Budget Secretary under Estrada and Bangko Sentral ng Pilipinas Governor under Duterte, is reportedly being considered as president and chief executive officer (PCEO) of the Maharlika Investment Corp.
During the same period last year, there were also speculations about Diokno potentially leaving his position due to criticism he faced for his handling of the peso and inflation. Now, an out of the loop Diokno has been caught off guard by his boss’ unexpected decision to implement a price cap on rice.
Babbler said Diokno was initially asking to return to his old post in the BSP but President Marcos chose the more level-headed Eli Remolona.
Babbler said Diokno is now looking at the Maharlika as a cool landing spot especially considering that as its PCEO, he would be getting substantial compensation package, comparable to his hefty earnings central bank chief.
Bilyonaryo.com had previously reported that during the PNoy era, contenders for the Maharlika fund manager position included Robert Vergara, the former head of the Government Service Insurance System (GSIS), and seasoned banker Victor Valdepeñas.
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It’s worth noting that, as per the implementing guidelines, this position requires an application process.
If Diokno does make the move to Maharlika, the question arises: who will become Marcos Jr.’s Finance chief? According to Babbler, Ralph Recto is the front runner for the post.
Recto, who engineered, served as director-general of the National Economic and Development Authority (NEDA) for one year during the Arroyo administration has served for three terms in the Senate and is currently serving his fourth term in the House.