MANILA - President Aquino won't give the greenlight to the Commission on Elections resolution imposing a cash ban as election day nears.
Speaking to reporters, Aquino said Executive Secretary Paquito Ochoa Jr. has spoken to Comelec Chairman Sixto Brillantes to express his opposition and said that he is not giving his concurrence to the resolution.
Under the resolution, the Bangko Sentral ng Pilipinas is being deputized to ban cash withdrawals that exceed P100,000 a day.
The BSP has expressed its opposition to the resolution.
"Secretary of Justice tells me that under the Constitution, there is need for my concurrence for this matter and I have not given my concurrence," he said.
He said that while the intention to prevent vote buying is good, he described the cash ban a "shotgun approach" that would disrupt business and the economy.
"Parang shotgun approach. Bagamat baka mahinto mo nga (ang vote buying) e marami ka ring marami ka ring hinihintong hindi mo naman balak hintuin," he said.
Aquino cited fast food restaurants that have to engage in transactions from P100,000 to P500,000 a day, as well as those in markets and other industries.
"Maganda 'yung konsepto, well maganda ang idea, pero mali suguro 'yung paano mo ipatutupad. Parang equivalent na rin sa sinabing ihinto natin 'yung ekonomiya during the time of the ban. I don't think that's the intention of Comelec," Aquino said.
He said that law enforcers continue to be on the lookout against vote buying, adding that cases are being readied in instances where there are witnesses testifying.