DESPITE the commitment of Bangko Sentral ng Pilipinas (BSP) to increase the coin allocation for Cebu, increasing public awareness on coin re-circulation is still the concern the Cebu Bankers Club (CBC) aims to strengthen this year.

Newly-elected CBC president Claro Cabaero said that to further raise awareness on coin re-circulation, the club will come up with “catchy” slogans to remind the public to make use of their coins in whatever transaction.

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Cabaero told Sun.Star Cebu Wednesday that the proposal has been approved by the regional office of the BSP and will be a joint project with the CBC. He said the CBC will tap the print and broadcast media on this.

The BSP is on a nationwide coin re-circulation campaign to address the perceived coin shortage in the country. It recently conducted a consultative dialogue here with the multi-sectoral group encouraging them to flush out coins to facilitate the completion of payments and other economic activities in the country.

BSP reported that it minted 15.6 billion pieces of coins worth P16.9 billion as of last December. But not all coins are circulating as some are warehoused in piggy banks, vending machines and other coin-operated machines.

Cabaero said that though BSP has pledged to increase the coin allocation for Cebu, raising awareness on coin-recirculation is still the top priority of BSP 7 and CBC.

BSP has committed to increase the coin allocation for Cebu after CBC’s request with the expansion of the business and economic activities in Cebu, he said.

“There is a need for an increase of coin allocation especially now that we can see a lot of economic movements in the city as manifested in the construction of establishments, opening of high-to low-end stores, among others. Cebu should have higher allocation than any other area in the Visayas,” he said.