Quezon City – The House Committee on Banks and Financial Intermediaries approved House Bill No. 1662: The Anti-Hoarding of Philippine Legal Tender Coins Act of Iloilo City Representative Jerry Treñas. The Bill empowers the Bangko Sentral ng Pilipinas to go after syndicates engaged in large-scale coin hoarding. “It is a must for us to empower the Central Bank to abate this unscrupulous practice which is compromising the integrity of the Philippine Peso. We must not allow these people to sabotage our economy through the absence of a law penalizing the large –scale hoarding of coins,” said Treñas.
The Iloilo City Solon’s Bills converting the Andres Bonifacio Elementary School and the Bakhaw Elementary School into integrated schools were also approved by the House Committee on Basic Education.
Technical Working Groups were formed in order to finalize the Bills of Treñas seeking to strengthen the Office of the State Counsel of the Department of Justice and to impose mandatory speed limiters on public utility vehicles.
Meanwhile, the House Committee on Good Government and Public Accountability has already commenced its investigation on the Metro Iloilo Water District’s purported refusal to comply with its contractual obligations, acting upon the House Resolution of Treñas calling for a Congressional inquiry on MIWD. The Good Government Committee conducted a hearing and an ocular inspection in Iloilo City last March 6-7, 2014.