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No Coins Shortage - BSP

06.19.2001

The Bangko Sentral ng Pilipinas assured the public today that there is no coins shortage as claimed in pronouncements coming from Metro Rail Transit (MRT) authorities.

Ms. Teresita G. Manigque, Director of the BSP Cash Department, said there is no truth to statements being made by Mario C. Miranda, acting General Manager of the Metro Star Express, blaming the Bangko Sentral for the inability of MRT tellers to provide change for paper bills paid by the riding public.

Miranda, in several radio interviews, said the Bangko Sentral could not give the MRT its regular supply of change coins because of a supposed breakdown in the minting operations of the BSP Security Plant Complex. He suggested that the MRT be allowed to upgrade its fares to avoid having to produce change coins.

Mr. Nestor B. Salanio, Director of the BSP Mint and Refinery Operations Department, said there was no machine breakdown at the Mint. Mrs. Manigque said the BSP Cash Department has never failed to deliver the MRT's requested coin requirements through the Philippine National Bank pursuant to an agreement to this effect between MRT and the PNB in December 2000. The BSP Cash Department has been supplying the required coins in denominations of 5-piso, 1-piso and 25- sentimo.

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