DOF’s Diokno on replacement rumors: I’ll work as long as needed

Finance Secretary Benjamin Diokno on Thursday said he will serve as the chief economic manager of the Marcos administration as long as he is needed amid rumors he will be replaced by Deputy Speaker Ralph Recto.

As early as September, Diokno dismissed as mere speculation a rumor circulating he will be removed from the helm of the Department of Finance (DOF) to head the Maharlika Investment Corporation (MIC). 

To recall, a story by Bilyonaryo.com, citing a source, claimed that Diokno will be replaced by Recto and that he is being considered to lead the MIC.

However, in November, President Ferdinand Marcos Jr. picked seasoned banker Rafael Consing Jr. to lead the MIC.

In an interview on ANC, Diokno was asked to address rumors that he will be replaced as the secretary of the Finance Department.

In response, the DOF chief said, “I serve at the pleasure of the President.”

“I’ll work until, as long as I’m needed in the government,” Diokno said.

Asked if he thinks that the President is still happy about his work, he answered kin the affirmative:  “I think so, yes.”

Diokno was earlier caught in the spotlight after he admitted that the economic team was not consulted on the price ceilings for regular milled and well-milled rice varieties.

The issue allegedly triggered Finance Undersecretary Cielo Magno's exit, after she supposedly criticized the imposition of the rice price ceiling. Malacañang had said the termination of her appointment was “expected,” saying she “clearly does not support the administration and its programs for nation building.”

The Finance chief, later on, said that the economic team was supportive of the price cap on rice.

—RF, GMA Integrated News