KIKO LAUDS SIGNING OF UP CHARTER

Senate Majority Leader and Independent senator Kiko Pangilinan today lauded the signing into law of the new UP Charter, which amends the century-old charter of the country's premier university. Kiko, who is the author and principal sponsor of the measure, was present in Cebu when President Gloria Macapagal-Arroyo signed the UP Charter.

"Many of the problems of UP are borne out of a small budget to reform and improve many of its services. Now that the UP Charter Act has been formally signed into law, the University will finally be able to generate income through the use of its resources and assets, which could be used to improve its curricula and salary system. The Act also institutes provisions on tax incentives on donations to the University as a means to raise more resources from the private sector. After almost 12 years in the legislative mill and our vigorous effort to pass the UP Charter Bill, we are glad that this landmark piece of legislation has been realized," Kiko said.

"The recurrent problem of tuition hike, which has hounded the state university for so long, will likewise be addressed as UP is envisioned to be self-sustaining and the burden will not be cast on the students," Kiko added.

"The UP Charter ratification will certainly hasten the competitiveness of UP degree-holders and its already world-class research. It is sad that two or three decades ago, other Asian national universities looked up to UP as the center of learning and information in Asia. Today, UP is lagging behind. The new UP Charter will help raise the bar of excellence of the school, my beloved alma mater," he said.

The UP Charter also allows UP's exemption from the Salary Standardization Act, tax exemption and incentives for donation, and greater autonomy by removing Malacañang's power to appoint the UP president and other sectoral representatives. It also provides safeguards for asset utilization and/or disposition including the creation of an independent trust committee to recommend and advise the BOR on permissible investments, higher BOR voting requirement for contracts involving P50million and above, the increase of salaries of its teaching and non-teaching staff and the redesigning of its current curricula, among others.