OUTGOING Finance Secretary Carlos Dominguez 3rd has been awarded the Order of Lakandula with the Rank of Grand Cross (Bayani) by President Rodrigo Duterte for his outstanding contribution to the country, the Department of Finance (DoF) announced on Friday.
In a statement, the agency said Dominguez’s outstanding service to the country contributed to the resounding success of the Chief Executive’s trademark infrastructure renovation program Build, Build, Build.
“I accepted the Order of Lakandula rank of Bayani (Grand Cross) on behalf of the DoF team. Your hard work made this possible,” Dominguez was quoted as saying.
President Rodrigo Duterte (left) confers the Order of Lakandula on Finance Secretary Carlos Dominguez 3rd (middle), who is accompanied by his wife, Cynthia. CONTRIBUTED PHOTO
The Order of Lakandula is given to outstanding political and civic figures. The award is given in honor of Lakandula’s commitment to leadership, prudence, fortitude, courage and resolution in the service of his people.
During Dominguez’s tenure as secretary of Finance, the department said it worked closely with Congress to pass the country’s most comprehensive tax reform program, which dramatically decreased income taxes for both people and corporations.
It emphasized that these game-changing policies, especially the Tax Reform for Acceleration and Inclusion Law, have provided the government with a sustainable cash stream to finance the country’s unparalleled Build, Build, Build program.
The Finance department noted that under Dominguez’s leadership, it was able to properly implement President Duterte’s fiscal discipline and responsibility policy, earning the country its highest credit ratings, which were maintained even throughout the pandemic.
“This, in turn, enabled the government to access highly concessional financing from its bilateral and multilateral partners for its Build, Build, Build projects, including the country’s single biggest infrastructure project and first-ever underground railway system — the Metro Manila Subway,” it said.
Duterte also conferred the Order of Lakandula with the Rank of Grand Cross on Executive Secretary Salvador Medialdea and other members of the government’s infrastructure team, including Transportation Secretary Arthur Tugade, and Presidential Adviser on Flagship Programs and Projects Vivencio Dizon, the agency added.