The Commission on Appointments confirmed the appointment of Karl Kendrick Chua as NEDA Secretary.
On Wednesday, the Commission on Appointments (CA) confirmed the appointment of Karl Kendrick Chua as the Secretary of the National Economic Development Authority (NEDA).
During the CA Committee on Tourism and Economic Development, Karl Chua received unanimous support from senators and congressmen who were members of the bicameral commission.
Among the lawmakers who backed Karl Chua’s appointment were the following: Senate Majority Leader Juan Miguel Zubiri, Minority Leader Franklin Drilon, Senators Bong Go, Cynthia Villar, Joel Villanueva, Grace Poe, Panfilo Lacson, Ramon Revilla Jr., Ronald Dela Rosa, and Representatives Alex Advincula and Luis Ferrer IV.
Senate President Pro Tempore Ralph Recto, who sponsored Karl Chua’s nomination in the CA plenary, also cited Chua’s sterling academic record.
Recto tagged Chua as “NERD” (National Economist for Recovery and Development), who was “the youngest in years, but one of the wisest in experience” among the Cabinet members.
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“The nominee is a NERD – but with K-Pop looks. By NERD, I mean our National Economist for Recovery and Development. In the Cabinet, he is the youngest in years, but one of the wisest in experience. He has logged 18 years of experience in each of the following disciplines: economic policy, fiscal policy, tax administration, political economy, and tax policy,” Recto said.
Recto also noted Karl Chua’s role in crafting the “biggest tax hikes” in the history.
Karl Chua was the former undersecretary of the Department of Finance (DOF) and also one of the faces who pushed for the TRAIN (Tax Reform for Acceleration and Inclusion Law) Law.
The Senate leader also acknowledged Karl Chua’s vital role in preventing the economy from “fully flatlining and to lay the foundations of a turnaround” after the coronavirus pandemic had negatively affected the economy of the Philippines.
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