BIZ BUZZ: DOF to lose 2 undersecretaries
The Department of Finance (DOF) may be about to lose more than just its chief.
With the recent Cabinet shakeup that catapulted Ralph Recto to executive secretary, Biz Buzz learned that two of his top undersecretaries at the DOF are preparing to follow him out the door.
Sources say that Undersecretary Maria Luwalhati Dorotan-Tiuseco is all set to join Recto at the Office of the President.
Meanwhile, Undersecretary and chief economist Domini Velasquez’s exit was apparently in the works even before Recto’s departure.
Biz Buzz learned that the former China Bank economist had already informed Recto of her plans to return to the private sector as an economist.
The timing of these departures leaves a department still navigating the headwinds from the flood control corruption scandal—a burden that will now fall squarely on the shoulders of Finance Secretary Frederick Go, who took his oath alongside Recto early Wednesday.
As for Go? He casually told reporters to “pray” for him, acknowledging the heavy load he now carries on his back.
