BIZ BUZZ: More bodies getting on the Cha-cha train

Don’t look now but this institution that had long been reluctant to join the Charter change (Cha-cha) bandwagon may do so, after all.

This is due to its growing belief that the time is right to update the Constitution to make it more attuned to the times and responsive to challenges that were not contemplated when it was ratified in 1987.

Plus, those in the know told Biz Buzz that this body is having a change of heart because of concerns that it may be written out if it does not participate in initiatives to tweak the Constitution. Moves to amend the Constitution have always invited protests due to lingering mistrust of the motivations behind such steps and the latest initiatives in the House of Representatives are no exemption.

Nevertheless, this institution is apparently more willing now to at least seriously consider the wisdom of taking another look at the highest law of the land, and see where it can be improved.

Thus don’t be surprised if there will be major announcements coming soon on the political front. Abangan! —Tina Arceo-Dumlao

Recto’s technocrats

It’s a position that won’t necessarily benefit his future electoral aspirations, especially if he will espouse new tax measures, but veteran lawmaker Ralph Recto is bold enough to take on the new challenge, anyway.

So how will the new finance secretary attain his avowed goal to raise P4.3 trillion during his first year in office? With more than a little help from friends.

When he served as National Economic and Development Authority (Neda) secretary from 2008 to 2009, Recto brought with him just one technocrat. This time, he will likely bring a few more lieutenants to the Department of Finance.

One of them is Joven Balbosa, who has more than 30 years of professional experience in macroeconomics, public sector management, country strategy formulation, programming and evaluation. He previously worked at the Asian Development Bank, World Bank and WI Carr and is no stranger to the legislative mill as he had worked as a Congressional staffmember.

He holds a bachelor’s degree in economics from the University of the Philippines (UP), a master’s degree in development economics from Williams College and a diploma in advanced specialization in development economics from the University of Colorado.

Another potential undersecretary is Rolando Tungpalan, former Neda undersecretary who handled investment programming. He chaired the influential Investment Coordination Committee Technical Board, which was responsible for approving public as well as public-private partnership projects. He likewise headed the Infrastructure Committee-Technical Board and served as main government counterpart to country assistance discussion with multilateral and bilateral international development agencies.

Tungpalan also holds a bachelor’s degree in economics from UP. He also has a master’s degree in economic research from Center for Research and Communication (now UA&P). —Doris Dumlao-Abadilla INQ