You’ve probably seen the latest logo of the Bangko Sentral ng Pilipinas, and as per the BSP documents, the country’s central bank has allotted over Php50 million for it.
Bear in mind that the entire budget was not solely spent on the creation of the logo itself. The Php50 million BSP budget is divided into three categories, which will be used to implement and distribute the new logo.
The biggest allocation was put to public relations and advertising, which costs Php30 million. It will be used for programs relating to branding, advisories, notices, circulars, and corporate ads for the latest logo.
Meanwhile, Php15 million will be spent on letting Filipino citizens be aware of the new Bangko Sentral ng Pilipinas logo. That includes production and replications of advertisement materials for ratio, TV, cinema ads, and other programs. Lastly, the BSP is allotting Php7.5 million for advertising and public relation programs.
As per BSP’s timetable, the notice for the project’s bidding should have begun in the first half of 2020, while the awarding and contract signing of the contract should have happened months after that. However, the said bidding should have gone through a public bidding process as standard procedure.
Bilyonaryo has asked BSP corporate affairs manager Elisha Elirio about the budget allocation specifics and who won the bid for the project, but they are yet to respond to the queries.