Central Bank HQ set for renovation

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is considering the retrofitting and renovation of its headquarters in Manila once the planned transfer of the Security Plant Complex (SPC) to the New Clark City in Capas, Tarlac is completed.

Sources said one of the proposals is to transfer employees at the BSP main complex situated along Roxas Boulevard to the existing SPC in Quezon City once the new facility in Tarlac is completed.

The BSP headquarters in Manila houses the offices of the governor, the Monetary Board and the different operating departments or offices.

The main complex has several buildings including the five-story building, multi-story building, the EDPC building, the Department of Finance (DOF) building and the BSP Money Museum that showcases the central bank’s collection of currencies.

Another source said the earthquake-proof buildings inside the complex are now due for retrofitting having survived disasters since the 1970s.

“I think more on retrofitting since the buildings are already old,” the source said.

Likewise, the source said the interior of the buildings would be subject to modernization and space rationalization. “I think this will be done over a period of time,” the source said.

The BSP has a workforce of more than 5,000 and around 3,000 are working in the main complex in Manila while the balance of 2,000 are based in the Quezon City office.

The BSP and the Bases Conversion and Development Authority (BCDA) are scheduled to sign a memorandum of understanding on the planned construction of an SPC in the New Clark City.

BSP Governor Benjamin Diokno is also expected to lead the groundbreaking ceremony on Friday.

The 41-year old SPC in Quezon City houses a banknote printing plant, a securities printing plant, a mint and a gold refinery. The banknote printing plant and the mint take care of producing currency notes and coins, respectively.