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MST Chatter -- BSP official copes with 2-hour traffic

Even the top executives of Bangko Sentral ng Pilipinas experience the traffic congestion that greet Metro Manila motorists and commuters on a daily basis. Deputy Governor Diwa Guinigundo said to cope with the situation and avoid wasting his time, he has been doing some paperworks inside his car on his way to Bangko Sentral in Malate, Manila from his home in Quezon City.

In a chat with banking reporters, Guinigundo said it now took him more than two hours of traveling from his Quezon City residence to reach P. Ocampo Street where Bangko Sentral is located.

“[Lately] I’ve been doing paperworks on my way to Bangko Sentral. It takes me more than two hours to reach the office because of the heavy traffic,” Guinigundo said.

Guinigundo usually wakes up at 5 a.m., leaves his house at 7 a.m. and arrives at Bangko Sentral by 9 or 10 a.m. Guinigundo lives in Tandang Sora, Quezon City.

Guinigundo is Bangko Sentral’s deputy governor for the monetary stability sector. The two other deputy governors are Nestor Espenilla Jr. of the supervision and examination sector and Vicente Aquino of the resource and management sector. 

 

LRT common station still a concept

While the Transportation Department presented a draft agreement to SM Prime Holdings Inc. to resolve the deadlock on the common station linking the Light Rail Transit and Metro Rail Transit, SM Prime president Hans Sy said what was sent to the company so far was a mere “concept.”

“They have sent us some idea, but it was just a concept.  We cannot finalize on a concept. So show us what your compromise is and we will see. Because we cannot make a decision based on a concept,” Sy said.

According to the Transportation Department’s proposal, two common stations would be constructed, with one located near the Ayala Group’s Trinoma Mall in Quezon City to connect LRT-1 and MRT-3, and the other near SM North Edsa Mall to link MRT-7 and MRT-3, with an option to connect LRT-1,

When asked if the issue could be resolved under the Aquino administration, Sy said: “The ball is with them. We are not insisting, but we have a contract”.

Although the Transportation Department proposed to have two common stations, SM Prime was still not willing to withdraw the case against the agency for allegedly breaching the contract on the location of the proposed P1.4-billion common station.

SM Prime earlier secured a Supreme Court stay order, barring the agency from transferring the location of the common station to Trinoma mall. Jenniffer B. Austria

 

SM to proceed with Arena in Cebu

Speaking of SM Prime, the company said it would proceed with the plan to build an indoor arena in Cebu, despite the failure of the Philippines to host the 2019 Fiba Basketball World Cup.

China has beaten the Philippines for the right to host the prestigious sports event.

The group of businessman Manuel Pangilinan during the bidding submitted several potential venues for the World Cup, including SM Mall of Asia Arena in Pasay City, Philippine Arena in Bulacan, Araneta Coliseum in Cubao and the soon-to-rise SM Cebu Arena.

While hosting the Fiba World Cup is now out of the question, SM Prime president Hans Sy said the development of SM Cebu Arena within the 30-hectare SM Seaside Complex will push through.

“It is a commitment I made with the Cebuanos. So construction will push through,” Sy said.

Final details are being completed, including the size and capacity of the arena. Jenniffer B. Austria

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