MILD-MANNERED, MULTIFACETED: FINANCE SECRETARY MARGARITO TEVES
MANILA, September 29, 2005 (MALAYA) BY JIMMY C. CALAPATI - NEWLY-APPONTED FINANCE SECRETARY MARGARITO B. TEVES Mild-mannered and multi-faceted:
Mr. Margarito B. Teves was appointed Finance Secretary on July 12, 2005. His professional life boasts of a long and multi-faceted career as a banker, an economist and a lawmaker. Before assuming the top post of the Department of Finance, Mr. Teves was President and CEO of the Land Bank of the Philippines since September 1, 2000. The good financial performance of the state-owned bank is credited to his leadership.
Mr. Tevesí affiliations include chairmanship of several LBP-affiliated corporations, Peopleís Credit and Finance Corporation and the Philippine Crop Insurance Corporation. He is a council member of the National Food Authority and Food Terminal, Inc. He is also a board member of the Manila Electric Company (Meralco) and PhilEquity Fund, Inc
Before his stint as a banker, Mr. Teves was connected with the economic forecasting agency Think Tank, Inc. where he served as Chairman and CEO from July 1998 to August 2000.
His political career started on July 1987 when he was elected as Congressional representative of the 3rd District of Negros Oriental. Mr. Teves, the lawmaker, crafted several laws and bills, including Republic Act 7221 that liberalized the entry and scope of operations of foreign banks in the country, Republic Act 6911 or the Magna Carta for Small Enterprises and Republic Act 8293, an Act amending the Patents, Trademarks and Copyright Laws of the country. He also authored the law that amended parts of the National Internal Revenue Code, and the law that established the Overseas Investment Fund to provide incentives to overseas workers & reduce foreign debt.
Mr. Teves also took part in crafting the New Central Bank Act (RA 7653), in creating the Cooperative Development Authority (RA 6939) and the restructuring of the excise tax on petroleum products (RA 8184).
While in Congress, Mr. Teves became chairman of the Committee on Rural Development and the Committee on Economic Affairs. He also became a member of several Standing and Special committees. After serving three consecutive terms, his tenure in Congress ended on June 1998.
His service to civil society involved past presidency of the Philippine Economic Society and member of the Makati Business Club. He founded the Corporate Planning Society of the Philippines and was also a former trustee of the Philippine Futuristics Society.
Mr. Teves took up Bachelor of Arts at the Universidad Central de Madrid, Spain in 1961. He earned his diploma in Higher Education Diploma in Business Studies in 1965 at the City of London College in England. In 1968, he finished his masterís degree in Development Economics from Williams College, Massachusetts, USA.
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