Kasangga hails Teves appointment to DOF

The choice of former House economic affairs committee chairman and Land Bank president Margarito Teves as secretary of finance is a most welcome decision of President Arroyo, according to Teodorico T. Haresco Jr., chairman and organizer of Kasangga at Gabay Foundation Inc. He welcomed the appointment as most fitting for Teves who spent the best years of his life honing expertise at the policy level in the field of economics, finance and banking.

"Teves highly fits the position and is an excellent choice. He has participated actively in the shaping of our economic and fiscal policy and has crafted laws restructuring the Central Bank, reforming the capital markets, tariffs and taxes, he said.

His seasoning in statecraft, particularly in economic and fiscal policy, has made him conversant with directions taken by government. Thus, he can be most useful in helping the President steward the ship of state in rough economic and fiscal waters," Haresco said.

Teves served nine full years (three terms) in Congress where NEDA Secretary Romulo Neri worked with him as head for economic planning and policy. Their having worked together fortifies the economic team of the government.

"With Secretary Teves at the helm of the finance Department, we look forward to a revitalized fiscal and monetary policy that can hasten the country’s economic recovery. His leadership in the field, it is our hope, will strengthen the climate for more foreign investments," Haresco said.

Kasangga executive director Alvin Cabatit said the rank and file of Kasangga chapters in the provinces welcome the appointment of Teves as an excellent choice for finance secretary.