Singson clarifies GMA appointment

Former Bangko Sentral ng Pilipinas (BSP) Governor Gabriel C. Singson clarified yesterday that his recent designation by President Arroyo as advisor on banking and foreign debt does not mean that he has rejoined the government.

According to Singson his agreement with the President does not entitle him to hold office in Malacañang or in any other government agency.

Singson said he would only offer his advice, whenever he is called by the President for specific consultations. He assured he would never give "unsolicited" advice.

Singson also stressed that he will not receive any monetary compensation from the government and, this, should not be accused of any conflict of interest.

Singson is currently connected with taipan John Gokongwei’s holding company JG Summit.

Although Gokongwei has an interest in Robinson’s Savings Bank, Singson said, he has not direct dealings with the thrift bank.

He pointed out that he is actually prohibited from working for any bank until July this year.

He assured that in the event there is any matter that would involve the Gokongweis, he would be the first to tell the President and inhibit himself.

President Arroyo recently designated Singson as her senior advisor on banking and foreign debt in view of Singson’s more than 40 years experience in banking as BSP governor, former president of the Philippine National Bank and senior advisor during the term of President Estrada. – Marianne Go