Where To

This seemingly simple question now reverberates both in the political and economic platform as the landscape for the eventual departure of incumbent Finance Secretary (SecFin) Benjamin E. Diokno has altogether change with the appointment of Rafael “Joel” Consing as the chief steward of the Maharlika Investment Corporation.

While Consing’s transfer as MIC’s president and chief executive officer from executive director of the office of Presidential Adviser on Investment and Economic Affairs has been going around in the last few days, it still came as a surprise considering that Diokno is a major contender to the post.

Diokno’s situation, at the moment, calls to mind the theme song of the 1975 movie Mahogany. Although, the storyline of the movie is entirely different from the storyline of the current SecFin the first title of the song aptly describe his situation Do You Know Where You’re Going To?   

Almost, always the political dynamics is very fluid as it can change quickly in a quink of an eye. In the sphere of the economic observers this development is kinda’ crucial simply because Rep. Ralph Recto has already accepted the SecFin portfolio vice Diokno to was earlier rumored to head MIC.

One of my fillers tell me that the incumbent has started and is slowly “boxing” his personal effects to give way to the entry of Recto.

From what I hear, accompanying Junior in the APEC Summit is Diokno’s last as the mini-reshuffle or revamp in the Cabinet will be effected within the month. Junior is leaving today, Tuesday 14 November, for the US.

Diokno left the country early and is now in San Francisco for the APEC Summit. A roadshow presentation will be held also in SFO and a talk with the Filipino community. Then the delegation makes a pitstop in LA to talk before making a side trip to Honolulu, where Junior’s family was exiled in 1986 before coming back to Manila.

Here’s the update on the mini-revamp. The head hunter is busy looking for the appropriate candidate to handle the Trade and Industry portfolio as incumbent Secretary Alfredo Pascual is reportedly on his way out.

President economic adviser Robinsons Land Corporation President and Chief Executive Frederick D. Go has again turned down the offer to replace Pascual. Before this, Go was being eyed to steer the department of finance, which he declined.

It will be all eyes and ears on the Palace when Junior and his team return on Monday, the 20th.