Solon raps plan to replace abaca in money

By Leila Salaverria
Philippine Daily Inquirer

Anti-Filipino and anti-farmer.

This was the reaction of Catanduanes Rep. Joseph Santiago to a proposal by the Bangko Sentral ng Pilipinas (BSP) to replace the abaca fibers it has been using in the money it prints with polymer, a kind of plastic.

“The BSP’s plan is totally contemptible, coming at a time when the government is pushing hard to fully exploit the commercial use of abaca here and abroad in order to boost family incomes and employment in the countryside,” Santiago said in a statement.

He said that if the plan pushed through, abaca suppliers would be deprived of a major source of income. Known worldwide as Manila hemp, abaca is endemic to the Philippines.

Philippine bank notes have been printed on special paper made from abaca fibers and cotton, but the BSP is considering the use of polymer to make the notes more durable.

But Santiago contended that durability should not necessarily be the ultimate goal of the BSP, since there were other issues that should be considered.

“The Japanese build durable cars, but they don’t build cars that last forever. If their cars were built to last forever, then they would not be able to sell new cars. And Japanese auto industry workers would be all out of jobs,” he said. “The same is true with printing money on abaca fiber. It is meant to be strong and long-lasting. But they need not last forever. Otherwise, rural households that have built their lives around abaca will suffer.”

Apart from the farmers, the fiber processing and pulp manufacturing industries would also be affected if the BSP went ahead with its plan, he said. Santiago added that polymers may not also be environment-friendly since they are non-biodegradable and not the easiest thing to recycle.

Abaca is planted on 136,000 hectares in the country, with more than 82,000 farmers subsisting on its production, according to the congressman. It is the number-one product of Catanduanes, Santiago’s home province.

The fiber is also used to make rope, carpets, decorative products, furniture, tea bags, clothing, handicrafts and other special paper.