Finance Undersecretary Cielo Magno resigns

ABS-CBN News

MANILA — Finance Undersecretary Cielo Magno has resigned from her post, she confirmed on Thursday.She said her resignation would take effect on September 16.&quot;I was grateful for the opportunity to serve the Filipino people, but I think the academe will give me the flexibility I need to advocate for good policies,&quot; Magno told ABS-CBN News.The economist said she would be &quot;teaching the law of supply and demand&quot; at the University of the Philippines School of Economics (UPSE).Five days ago, Magno posted on Facebook a graph depicting the law of supply and demand, with the caption &quot;I miss teaching.&quot; Some of her friends commented on the cryptic post, with one saying that she could &quot;teach it in [the] Cabinet&quot; and another saying that she should show the post to the agriculture and trade departments. President Ferdinand Marcos Jr., who heads the agriculture department, last week approved a cap on the prices of rice, which recently spiked. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/09/01/23/marcos-jr-sets-p41-p45-price-ceilings-on-rice-nationwide">Marcos Jr sets P41, P45 price ceilings on rice nationwide</a></li>	<li><a href="https://news.abs-cbn.com/business/09/03/23/price-cap-on-rice-only-temporary-neda">Price cap on rice only &#x27;temporary&#x27;, NEDA says after stakeholders air concern</a></li>	<li><a href="https://news.abs-cbn.com/news/09/02/23/farmers-group-worried-about-marcos-jrs-cap-on-rice-prices">&#x27;It sends a wrong message&#x27;: Farmers&#x27; group wary about Marcos Jr&#x27;s cap on rice prices</a></li></ul>Before quitting her post, Magno also led discussions on reforming the military and uniformed personnel pension system, and had pushed for higher tax on mining. <ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/21/23/govt-to-help-in-military-pension-loan-restructuring">DOF says gov&#x27;t to help military, uniformed personnel restructure loans amid pension reform push</a></li>	<li><a href="https://news.abs-cbn.com/business/08/16/23/huge-problem-looms-if-military-pension-system-sustained-diokno">&#x27;Huge problem&#x27; looms if military pension system sustained: Diokno</a></li></ul>Earlier on Thursday, Magno wrote on Facebook, &quot;A wise man told me, if you do your job with integrity, you will be back in UPSE soon.&quot;

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Finance Undersecretary Cielo Magno resigns

ABS-CBN News

Published Sep 07, 2023 11:22 AM PHT

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