Manila: Several senators formally took on new committee chairmanships on Monday as part of a reorganization of Senate leadership roles in the ongoing 20th Congress.

According to Philippines News Agency, Senator Alan Peter Cayetano now heads the Senate Committee on Banks, Financial Institutions, and Currencies, moving from his previous role as chair of the Committee on Science and Technology. He will now lead legislative oversight and reforms concerning banks, capital markets, digital finance, and consumer protection. Cayetano emphasized the committee’s role in safeguarding the public from scams and financial mismanagement, stating the importance of regularly ensuring investments are sound and operations are in order.

Although the chairmanship has formally been transferred, Cayetano requested time to complete key measures he initiated under the Science and Technology panel. The Science and Technology committee has since been turned over to Senator Paolo Benigno “Bam” Aquino IV, marking his second time leading the panel. Aquino previously chaired the committee from 2016 to 2019 and was the principal author or sponsor of landmark measures such as the Free Internet Access in Public Places Act and the Philippine Space Act.

Aquino now concurrently chairs the Senate Committee on Basic Education, where he is leading a 7-point reform agenda to address the country’s education crisis. Meanwhile, Senator Lito Lapid has assumed leadership of the Senate Committee on Urban Planning, Housing, and Resettlement. This panel is tasked with overseeing land use policies, housing programs, and resettlement efforts for informal settler communities.