House remembers late Trade chief Ongpin: Remarkable, respected

The House of Representatives on Tuesday expressed condolences to the family of late Trade Minister Roberto Ongpin who died last February 4.

This developed after the House adopted House Resolution 766 during Tuesday’s session.

Ongpin served as the Trade Minister during administration of the late President Ferdinand Marcos, Sr., father of the incumbent president.

“The late Trade Minister made many contributions to the development of the country and defended the Philippine currency in the wake of the 1983 financial crisis by establishing the Binondo Central Bank, a parallel exchange rate system that allowed the government to narrow the rate gap by directly intervening in black market currency prices,” the House Resolution read.

The House Resolution also said that Ongpin did well in his tenure in the private sector wherein he served as board chairman/director of various corporations, including mining firm Atok Big Wedge, luxury resort Balesin Island Club, conglomerate San Miguel Corp., oil refiner-distributor Petron, PAL Holdings, and gaming-internet company PhilWeb.

“The indefatigable business leadership and management he demonstrated in the private sector highlighted his keen business acumen, perseverance in work, integrity, and professionalism,” the resolution read.

“The death of this remarkable and respected man is a significant loss to his family, friends and colleagues in the government and private sectors, with whom he dutifully served with professionalism, competence and integrity,” it added.

The House Resolution was authored by Speaker Martin Romualdez of Leyte, House Majority Leader Manuel Jose “Mannix” Dalipe of Zamboanga City, Minority Leader Marcelino Libanan of 4Ps party-list, Senior Deputy Majority Leader Alexander Marcos of Ilocos Norte and Tingog party-list Representatives Yedda Marie Romualdez and Jude Acidre.—LDF, GMA Integrated News