Former Finance Secretary Cesar Purisima has called for the removal of ₱500 and ₱1,000 paper bills from circulation, saying the move could make corruption schemes more difficult.
Purisima made the recommendation following testimony before the Senate Blue Ribbon Committee that revealed cash deliveries to a lawmaker using suitcases and vans. He argued that reducing the highest denomination to the ₱200 bill would create logistical challenges for those attempting to store or transport large sums of money for illicit purposes.
The Senate panel is currently investigating allegations involving large-scale cash transfers, with testimonies pointing to the use of bulk cash deliveries to public officials. Purisima’s proposal comes as lawmakers and agencies face heightened scrutiny over how corruption networks move money across government projects.
Purisima emphasized that tackling corruption requires both institutional reforms and practical steps to limit opportunities for abuse. By removing high-denomination bills, he said, it would become more difficult for officials and contractors to hide or transport illicit funds discreetly.
