Distinguished guests, graduating students, parents, ladies and gentlemen.

It is my privilege to welcome you to this recognition and awards ceremony for the graduating class of this 50^th year of the UP School of Economics.

We have about 156 students who are going to earn degrees in BS Economics and BS Business Economics. Note that 60% of them will have received Latin honors, with two summa cum laudes. We also have about 23 who are earning their master’s degrees.

There are two sets of parents who are being honored by the achievements of this graduating class. One set of parents are those who tighten their belts and if only to pay for the out of pocket cost of getting UP education. Most of these parents are here with us this afternoon. Please accept our warmest congratulations. Another set of parents do not even know that they are being honored here today. These are the parents who pay general taxes that eventually found to UP budget. Ironically, most of these parents are unlikely to consider sending their children to UP even if these kids have sufficient intelligence and talent.

So to the graduates, my challenge — our challenge — is that you honor your two sets of parents by paying forward. First, you have to become better parents yourselves to your own children. Second, take on your responsibilities as second parents so that all talented young Filipinos will have a better chance of entering and finishing at UP like you have.

Welcome and thank you.