PSA-ARMM, BSP Cotabato strengthen ties
Regional Director Abubakar S. Asaad of the Philippine Statistics Authority – Autonomous Region in Muslim Mindanao (PSA-ARMM) and Deputy Director Perry B. Dequita of the Bangko Sentral ng Pilipinas (BSP) Cotabato Branch strengthened ties during their meeting last November 6, 2017 at the office of BSP Cotabato in Cotabato City.
RD Asaad, together with Mr. Razulden A. Mangelen (Provincial Statistics Officer of PSA-Maguindanao), Mr. Akan G. Tula (Supervising Statistical Specialist), Ms. Norhayyah A. Tula (Senior Statistical Specialist) and Ms. Farhana Jane S. Linso (Acting Statistical Analyst), went to BSP Cotabato to personally thank and award the Plaque of Appreciation to Dir. Dequita for their active support and participation during the culmination of the 28th National Statistics Month celebration last October 30, 2017. BSP Cotabato sponsored the snacks and tokens of about 80 participants during that event.
Dir. Dequita explained that BSP is mandated to support other institutions in the country, most especially the Philippine Statistics Authority, Department of Trade and Industry and the National Economic and Development Authority. BSP and the said agencies have established an interdependent relationship not just because they have similar visions and clients and also because they provide some of the information they need in order to perform their functions.
According to Dir. Dequita, BSP does not just simply print money, but they are also responsible in regulating the economy based on the supply and demand of money circulating in the market. The statistics on Consumer Price Index (CPI), Inflation Rates and Purchasing Power of Peso (PPP) regularly generated by the PSA are the fundamental information used by BSP in formulating the economic and monetary policies in the country.
PSA and BSP in other regions have always been partners in celebrating the NSM, particularly during closing programs. However, the same partnership in ARMM was not established in the previous years due to lack of awareness on the existence of BSP in ARMM. Dir. Dequita clarified that the Province of Maguindanao, which is in ARMM, is also under the jurisdiction of BSP Cotabato Branch. Thus, Dir. Asaad and Dir. Dequita have established partnership and commitment to support their future advocacies and programs through collaborative actions.