Thailand, Vietnam split 750,000-MT rice imports P&G puts PH on top priority for expansion Domingo set to rejoin private sector to replenish ‘depleting finances’
Secretary Gregory L. Domingo, the DTI’s longest serving secretary, is so eager to return to the private sector as quickly as possible because of his depleting finances after serving the government for more than five years.
In an ambush interview with DTI reporters after his advisory meeting with business groups on the traffic management plan in the National Capital Region from November 17-20 where the meetings and activities of the leaders of the 21 member countries of APEC will happen that he has agreed with the President to stay on until end this year. Malacañang has confirmed Domingo’s resignation on Saturday, Sept. 12.
Domingo said there was no really pressing reason for his resignation except that his finances are depleting after working for five and three months as DTI secretary. As DTI Secretary, Domingo holds chairmanships in other DTI agencies. But his salaries combined could be a minuscule compared to what he used to receive as executive director of the SM Investments Corp., the country’s leading business conglomerate.
“My finances are depleting,” said Domingo, who is the fifth richest Cabinet member of the Aquino administration. He sounded like he is in a dire financial situation. Had he not been prevailed upon to stay on until December 31 and instead allowed to leave effective October 31, Domingo said he could go back to the private sector by November next year having passed the one year ban.
“Not pressing reason but I want to start the clock running because I have one year prohibition so even if I start now, I still cannot work in the private sector right away,” he explained.
Under the law, a resigned government official can only work in the private sector a year after his resignation. Since Domingo’s resignation will take effect end December this yet, he can rejoin the private sector on January 1, 2017 yet instead of November 1, 2016.
“But don’t think of the end, think of it’s like 5 years and 3 months plus one year that’s long. I am the longest DTI secretary ever,” said the 61-year-old DTI chief. When he was appointed as DTI Secretary, Domingo was perceived as a bench warmer, but he ended up almost completing his tour of duty and even becoming DTI’s longest serving secretary. When pressed what he will do after December 31, Domingo said “I have one year to think about it.”
But why in the middle of the country’s hosting of the 2015 APEC?
Domingo explained that his official function at APEC will be over soon with only the APEC SME Ministerial Meeting left this coming Sept. 20-25. Completed APEC events in which DTI was the point person include APEC Trade Ministers meeting in Boracay and the ongoing APEC Women Summit. The SME Ministerial to be held in Iloilo next month is the only meeting left on the DTI plate.
“All the ministerial meetings in November are all under the Department of Foreign Affairs,” Domingo stressed.
The economic leaders meeting will start on November 17-19 with the culmination of the APEC 21 Leaders Summit on the 18th and 19th. Most of the leaders are leaving on the 20th.
Domingo is among President Aquino’s core Cabinet members who remained in their posts up to this time. Some have left to launch their political plans for next year.
But this has been Domingo’s second wave at government service. The first time was a short and forgettable stint. He was DTI Undersecretary being the managing head of the Board of Investments, the investments promotions arm of DTI, during the term of then DTI Secretary and now presidential candidate Mar Roxas. Unknown to many, Domingo helped Roxas in the promotion of the call center sector. (BCM)