Push Admin

DOF exec who resigned 'clearly set on maligning' Marcos Jr's admin: Palace

Article (news)

Job Manahan, ABS-CBN News 

MANILA (UPDATE) — Malacañang has &quot;terminated the appointment&quot; of Finance Undersecretary Cielo Magno for supposedly being unsupportive of the Marcos administration, it said on Friday. Magno announced her resignation Thursday, days after posting on social media a graph depicting the law of supply and demand, with the caption &quot;I miss teaching.&quot;<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/07/23/finance-undersecretary-cielo-magno-resigns">Finance Undersecretary Cielo Magno resigns</a></li></ul>The finance undersecretary&#x27;s post seemed to be a subtle criticism of President Ferdinand Marcos Jr&#x27;s <a href="https://news.abs-cbn.com/news/09/01/23/marcos-jr-sets-p41-p45-price-ceilings-on-rice-nationwide">order</a> to put a price ceiling on two rice types to rein in the soaring cost of the commodity. Executive Secretary Lucas Bersamin, however, said the Finance undersecretary &quot;has been against the policies of this administration.&quot; Magno had also &quot;made it known to the public on social media long before the President even assumed office.&quot;&quot;The termination of her appointment could only be expected as she clearly does not support the administration and its programs for nation-building,&quot; Bersamin said in a statement.<ul class="op-related-articles">	<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>&quot;Instead of working together with colleagues in the government to address any concerns, they were instead constantly done so through public fora,&quot; he added.The Executive Secretary said it was counterintuitive for her to be part of the Marcos administration since she was &quot;clearly set on maligning it to begin with.&quot;Before quitting her post, Magno also led discussions on reforming the military and uniformed personnel pension system, and had pushed for higher taxes on mining. The finance undersecretary has said going back to the academe would give her the platform she needs to &quot;advocate for good policies.&quot;<div>&#x27;EXPIRATION&#x27; OF TERM</div>While Magno earlier said her resignation would be effective on September 16, a new document from Malacañang that she shared on her Facebook page showed this would be effective immediately. &quot;May nanalo na po. Hindi po sya resignation or termination. Expiration po pala ang tamang term,&quot; said Magno in a Facebook post. &quot;Officially received the document this morning. Maraming salamat po. It was an honor serving the country. Makakatulog po ako ng mahimbing knowing that I did my best serving our country and advocating the interest of our people,&quot; she added. Press Secretary Cheloy Garafil confirmed to ABS-CBN News the authenticity of the document. &quot;This is in accordance to the [Office of Executive Secretary] statement already posted in relation thereto,&quot; Garafil said. Meanwhile, when asked by ABS-CBN News if the Palace allegations were true, Magno said she was leaving it up to the public&#x27;s conclusion.Instead, she detailed her works and policies under the administration as finance undersecretary, which she said was supported and done by her team at the Department of Finance: <ul>	<li>- Chairperson at the Extractives Industries Transparency Initiative. Under this, she &quot;ensured that the Philippines will be in good status under the global standard for good governance in the extractive sector.&quot;</li>	<li>&quot;This is part of the Open Governance Partnership (OGP) program of the government I advocated for higher taxes in mining to ensure the government gets fair share from the extraction of minerals and that it contribute to sustainable development,&quot; Magno told ABS-CBN News in a text message. </li>	<li>- Chairperson of the Fiscal Incentives Review Board (FIRB) Technical Committee. Under this capacity, she said she worked on making sure government effectively implement the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law. </li>	<li>- Worked with various government agencies on the concerns of the private sector on CREATe and VAT reimbursement. </li>	<li>- Reached out to the military and uniformed personnel for the reform of their pension system so government could have the &quot;most effective proposal.&quot; </li>	<li>- Worked with lawmakers on the ease of paying taxes, tax payers bill of rights, real property valuation reform, reforms on the local government units&#x27; income classification.</li>	<li>- Worked with the health and social welfare departments on the possible tax on junk food and sugary beverages. She said this was mean to finance President Ferdinand Marcos, Jr&#x27;s food stamp program. </li>	<li>- Response to the various position papers requested from the Department of Finance &quot;and the forecasting and monitoring of revenues to ensure we manage our deficit well.&quot;</li></ul>&quot;We also have the single-use plastic bill. The pending joint memorandum circular I was working on is on the automatic release of LGU share from extractive activities including mining,&quot; she said. Public interest organization Action For Economic Reforms, for its part, described Magno&#x27;s projects and works as something that &quot;translates into better economic performance and investor confidence.&quot;The group also described the Palace&#x27;s allegations against Magno as &quot;unfair.&quot; The finance undersecretary&#x27;s policies and works, they said, were in the best interest of the Philippines and the Marcos administration. &quot;Undersecretary Magno’s forced departure from the DOF means that the administration is jeopardizing and forgoing the opportunity to enact positive reforms,&quot; said the group. &quot;The administration... has lost a reformer who has the technical grasp and the political acumen to shepherd the reforms,&quot; it added. &quot;Against the backdrop of rising inflation, a ballooning fiscal deficit, and lackluster growth, the loss of good reformers makes the work at the Department of Finance all the more challenging.&quot;<figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2795305" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Finance Undersecretary Cielo Magno announced her resignation, days after posting on social media a graph depicting the law of supply and demand.

DOF exec who resigned 'clearly set on maligning' Marcos Jr's admin: Palace

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Traffic

Manila

Horoscope

News

DOF exec who resigned 'clearly set on maligning' Marcos Jr's admin: Palace

Job Manahan,

ABS-CBN News

Published Sep 08, 2023 06:09 AM PHT

|

Updated Sep 08, 2023 05:23 PM PHT

Read More:

Cielo Magno

Executive Secretary Lucas Bersamin

Palace statement on Cielo Magno

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.