More Senate committee chairmanships filled

The chairmanship of three more Senate committees in the 20th Congress were filled on Monday afternoon during the plenary session.

This came after Senate Majority Leader Joel Villanueva moved to elect the following senators to lead these committees:

• Banks, Financial Institutions and Currencies: Senator Alan Peter Cayetano
• Science and Technology: Senator Bam Aquino
• Urban Planning, Housing and Resettlement: Senator Lito Lapid

Senate President Francis “Chiz” Escudero approved the motions to elect the new committee chairpersons after no senator objected.

The Senate Committee on Science and Technology was initially given to Cayetano, but was transferred to Aquino, with the former requesting that he be allowed at least a year to complete the pending bills and initiatives he started during his tenure in the panel.

This marked Aquino’s second time leading the committee, having previously served as its chairperson from 2016 to 2019 during his first term in the Senate.

Cayetano, in return, will head the panel in charge of all matters relating to banks, financial institutions, currencies both government and private, capital markets, mutual funds, coinage, and the circulation of money, on top of three other committees. 

The senator underscored the importance of proper oversight of financial institutions amid ongoing concerns about mismanagement and corruption. He also said that proactive measures are needed to address the growing threat of financial scams in the country. 

As of Monday, August 4, the chairmanships of 40 of the 41 senate permanent committees have been filled, excluding the ethics and privileges committee. — RSJ, GMA Integrated News