Chief Justice Alexander Gesmundo (SC photo)
MANILA – Chief Justice Alexander Gesmundo has reiterated the importance of a functioning judiciary in the nation’s economic development.
By safeguarding the rights and freedoms of the individual, Gesmundo said the judiciary allows the country to prosper, and in nurturing economic prosperity, rights will also be protected.
“While it is the Executive department which is actively involved in maintaining economic security through the programs it undertakes, and the Legislative department in building economic prosperity through the laws it enacts, the Judiciary, passive though it may seem, is equally responsible for the development of the economy through the decisions it renders," Gesmundo said in a speech delivered online on Thursday before the annual awards ceremony of the Foundation for Liberty and Prosperity (FLP).
"By consistently balancing individual rights and freedoms with legitimate government interests, the Judiciary actually provides a stable environment for peace and order and economic growth.” he added. "Indeed, it is a symbiotic relationship, safeguarding rights go hand in hand with nurturing prosperity.”
During the virtual event, FLP awarded 21 scholarships to students under the Legal Scholarship Program; picked the 10 winners of its dissertation writing contest; and named five Esmel (Entrepreneurship, Sustainability, Management, Economics, and Business Law) fellows taking up Master of Business Administration or its equivalent.
Each scholar will receive PHP200,000 -- PHP100,000 maximum for tuition, PHP80,000 as monthly stipend, and PHP20,000 for books – while each fellowship is worth PHP450,000.
The FLP was formally organized as a juridical person when the Securities and Exchange Commission issued its Certificate of Incorporation on Oct. 27, 2011.
According to its website, FLP aims to perpetuate the core judicial philosophy of retired Chief Justice Artemio Panganiban that “jurists and lawyers should not only safeguard the liberty of our people but must also nurture their prosperity under the rule of law.” (PNA)
