Ex-PNCC chief is nat’l treasurer

President Arroyo has reportedly appointed former Philippine National Construction Co. (PNCC) chairman Rolando Macasaet as the new national treasurer, replacing resigned Bureau of Treasury Director Mina Figueroa.

Executive Secretary Eduardo Ermita disclosed Macasaet’s reported appointment yesterday. Figueroa’s resignation takes effect on Oct. 15. However, Presidential Spokesman Ignacio Bunye told The STAR Macasaet has no appointment papers yet.

The appointment of Macasaet, who headed the PNCC during the time of deposed President Joseph Estrada, came out as Mrs. Arroyo convened a regular meeting of the National Economic Development Authority Board, where the Department of Finance (DOF) is one of the members.

The President earlier said she will leave it up to her economic managers, led by Finance Secretary Juanita Amatong, to recommend Figueroa’s replacement since the treasury is attached to the DOF.

"Because in the case of the economic team, it’s the economic managers because they get it from a pool of professionals. They constitute my search committee," Mrs. Arroyo said.

The President said Figueroa did not resign recently but in fact submitted her resignation several months ago.

"Actually, early on in my new administration, I was already told that she’s going to resign. There was also a given notice and the recommendation was to accept the resignation," she told Palace reporters last month.

This was to downplay reports that top finance officials were resigning one after the other due to the looming fiscal crisis economists said will strike in two to three years.

Figueroa’s resignation came after Finance Undersecretary Inocencio Ferrer also reportedly resigned out of "delicadeza," amid charges of deliberately bungling the cases against those involved in a tax scam that resulted in a loss of billions of pesos in revenues for the cash-strapped government.

The President said all of her appointees to national government agencies, including government-owned and controlled corporations and government financial institutions, were on "holdover" capacity.