Paderanga secures appointment

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Wednesday, May 18, 2011

CAYETANO Paderanga Jr., director general of the National Economic Development Authority (Neda), officially became the only Mindanaoan on the Aquino Cabinet after the Commission on Appointments confirmed him Wednesday.

This is the second time that Paderanga, who hails from Camiguin province in Mindanao, will serve as Neda chief. He was former president Corazon Aquino's socio-economic planning secretary from 1990 to 1992.

An alumnus of the Fatima College of Camiguin, Paderanga took up accounting at De La Salle University and took graduate studies in industrial economics at the Center for Research and Communication (now University of Asia and the Pacific), both in Manila. He has a doctorate in economics from Stanford University.


Paderanga is a professor at the UP School of Economics but went on leave after President Benigno Aquino III appointed him to Neda. He has also taught at Kobe University, the University of Western Ontario, and at Foothill College in California.

Paderanga earlier passed the scrutiny of the Commission on Appointments committee on tourism and economic development despite opposition over his alleged poor performance at credit management firm CIBI Information Inc. and at the Philippine Stock Exchange (PSE).

Roberto Romulo, former Foreign Affairs secretary, wrote the committee to report "failures in management" that Paderanga allegedly committed as chairman of CIBI Information. He said CIBI, under Paderanga's leadership, failed to remit P2.6 million to the government from 2004 to 2006.

He said the Neda chief also failed to disclose that he hired his brother-in-law as the company's legal consultant.

Philippine Stock Exchange director Vivian Yuchengco, in a separate letter, said that Paderanga "was found wanting" as PSE president and Chief Executive Officer.

"He did not maintain regular hours in the PSE nor did he come to the Exchange on a daily basis," she said. Yuchengco said he was at work less than half the time that he was supposed to be at the office.

Paderanga defended himself, saying he had to attend meetings and committee hearings as part of his job.

Despite the opposition from Romulo and Yunchengco, Camarines Sur Representative Luis Villafuerte moved to confirm Paderanga's appointment at the plenary level.

This led to his confirmation by the Commission on Appointments in plenary.(Jonathan de Santos/Sunnex)

Local news

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