December 4, 2010
Senator Francis “Kiko” Pangilinan welcomes the appointment of international banker and finance expert Alfredo Pascual as the University of the Philippines’ new president, adding Pascual’s background in the business sector will serve the state university well in addressing its financial problems.
“Pascual himself promised to address the financial needs of UP in lught of the budget cuts for 2011. I have expressed my reservations on this matter, and having a financial expert as UP president will certainly help matters.”
Pangilinan earlier said that state universities and colleges are the only means by which certain sectors can get affordable, quality education, and that slashing their budget would deprive the youth a chance to fulfill their dreams of getting a diploma and becoming productive members of society. Pangilinan allocated 100 million pesos for SUCs in 2009, and 40 million pesos in 2010.
Pangilinan is the principal author of the bill that created the UP charter, which sought to strengthen the university’s fiscal position by allowing it to exercise its initiative and enterprise. He is also a former chair of the UP student council, and sat as student representative on the UP board of regents.
“Education is an extremely important pillar of the country’s goal of becoming a developed nation. With Pascual and his extensive economic background, there is a chance that the financial woes of UP will be addressed and remedied.”