President Gloria Macapagal-Arroyo on Monday rushed a new round of government appointments before a constitutional ban takes effect on March 10, starting with Trade Secretary Peter B. Favila as member of the Monetary Board (MB), the policymaking body of the Bangko Sentral ng Piilpinas.

Also appointed were Education Secretary Jesli A. Lapus as new secretary of the Department of Trade and Industry (DTI) and Presidential Adviser for Education Mona D. Valisno as secretary of the Department of Education (DepEd).

President Arroyo also appointed Army Chief Lt. Gen. Delfin Bangit to replace AFP chief of staff Gen. Victor Ibrado who is set to retire on March 10, effectively shutting down calls for the latter’s term extension.

The Chief Executive introduced Favila as “outgoing Trade secretary and incoming (Monetary) Board member” and Lapus as “outgoing Education secretary and incoming Trade secretary” during the 2nd Go Negosyo Women Entrepreneurship at the World Trade Center in Pasay City Valisno’s Cabinet appointment was announced later at the Citizenship Advancement Training (CAT) military ceremonies at San Sebastian College in Manila.

Prior to announcement of the new government appointments, the President administered the oath of office of new Executive Secretary Leandro Mendoza and six Cabinet secretaries who replaced those running for public office in a simple ceremony in Malacañang. Afterwards, the President and her overhauled cabinet posed for a group picture.

Mrs. Arroyo is expected to convene the first meeting of her revamped Cabinet on Tuesday in Manila, and no longer in Sulu as originally planned. The cabinet meeting, which would tackle the power situation in Mindanao and completion of projects before the end of her term, was moved to Manila at the last minute apparently due to logistics problems.

The President, in her remarks at the business forum, praised Favila for his work at the trade department since July 2005, particularly in promoting the welfare of the small businessmen. Favila, a former banker, also served as chairman of the Micro, Small and Medium Enterprises Development (MSMED) while he headed the trade department.

Under Favila’s guidance, the President took pride that her government has extended P340 billion in loans to six million micro, small and medium entrepreneurs, exceeding its target of helping three million small businessmen by 2010.

“So there will be a champion of micro enterprise and small enterprise

loans in the Monetary Board of the Central bank, I decided to appoint former Secretary Peter Favila as member of the Monetary Board,” she said.

The appointment of Favila comes amid reports lawyer Raul Boncan was retiring from the Monetary Board due to poor health. Prior to his appointment, Favila, a banking and finance graduate at the University of Santo Tomas, sat as ex-officio cabinet representative at the Monetary Board.

Before serving the Arroyo Cabinet, Favila was presidential adviser on infrastructure finance and as economic adviser to the Speaker of the House of Representatives. He was also chairperson of the Philippine Stock Exchange, as well as of the Securities Clearing Corporation of the Philippines.

Favila also served as senior vice president of the Metropolitan Bank and Trust Co. before becoming president of local banks including Security Bank, Allied Bank, and the Philippine National Bank.

President Arroyo also thanked Lapus, a former representative of Tarlac, for helping improve the quality of education during his stint as education secretary. She cited that the government’s scholarship programs have benefited thousands of Filipino students in private schools.

Lapus, who served three terms as member of the House of Representatives, was previously president of Land Bank of the Philippines from 1992 to 1998.

Before joining Congress, Lapus held various managerial positions in companies involved in manufacturing, financial services, and international trade. He also taught at the Asian Institute of Management's Masters in Development Management Program and Ateneo de Manila University.

Valisno, former commissioner of the Commission on Higher Education, was a member of the presidential task force that developed strategies to improve the country’s education system.

She also served as Presidential assistant for education in 2001 and promoted undersecretary of the Department of Education in 2004. Valisno was also named chairperson of the advisory council of the Professional Regulations Commission from 2005 to 2006.

Early in the day, Mendoza and the rest of the new Cabinet replacements took their oath before the President in the Palace. Also sworn into office were Justice Secretary Alberto Agra, Budget Secretary Joaquin Lagonera, Agriculture Secretary Bernie Fondevilla, and Presidential Management Staff chief Elena Bautista.

Technical Education and Skills Development Authority (TESDA) Deputy Director General Rogelio Peyuan now sits as new TESDA director general while Deputy Executive Secretary Natividad Dizon serves as new Chief Presidential Legal Counsel.

Former Executive Secretary Eduardo Ermita also paid a farewell call on the President in the Palace prior to the oath taking ceremony.

“As the President reshuffles her cabinet yet again, this time to replace departing candidates for elective office, it's important to remind our people that it's still business as usual at the Palace, as the government carries on with the day to day governance of the nation,” Deputy Presidential Spokesman Gary Olivar said.

Under the 1987 Constitution, the President is banned from making government appointments two months before elections. The national and local elections will be held on May 10, which gives the President only until March 10 to revamp her Cabinet.