Sunday, December 24, 2006 P10 notes spark confusion in S. Cotabato
THE 10-peso bill is causing confusion in South Cotabato province.
Public utility drivers here are complaining that revenue officers in Koronadal City and nearby areas are no longer accepting the 10-peso bills as payments.
A van driver told Bombo Radyo that a ticketing booth operated by the City Government at a giant mall has been rejecting 10-peso bills.
Transport operators are required to pay a certain amount to the City Government before they are allowed to ply certain routes.
"It's unfair since we accept P10 bills from our passengers. Moreover, we have not heard or seen in television that the Central Bank has ordered that P10 bills are no longer in circulation," the driver said.
Agustin Lacbayo, branch head of the Bangko Sentral ng Pilipinas (BSP) in nearby General Santos City, however said the P10 and P5 notes continue to be a legal tender and have not been demonetized.
Reports however said the BSP are no longer printing new P10 and P5 notes with the circulation of their coin substitutes.
Lacbayo said the law is unclear on what to do with people who do not accept legal tenders still in circulation.
"What is clear in our law is that on money counterfeiting. This is punishable," he noted.
Lacbayo said the supplies of P10 and P5 notes still circulating in the region are very minimal. (BSS)
