New U.P. Charter signed; Highlights of 2008 Charter

 Last April 30, President Gloria Macapagal-Arroyo signed into law the new University of 
the Philippines (UP) Charter. The historic event took place at 10:00 am at the Library 
Building conference hall, UP Visayas-Cebu College, Cebu City. Present in the signing 
were UP President Emerlinda Roman, members of the Board of Regents, and Senator Francis 
Pangilinan, one of the bill's principal authors. Below are the highlights of the 2008 Charter:

 UP is the National University 
 UP is recognized as a University System, thus, acknowledging the role of the 
 chancellors as administrative leaders, and of the university council as the highest policy 
 governing body in each constituent university. 
 The new UP Charter provides UP some flexibility to enable it to come up with a 
 competitive compensation package. 
 UP will receive an addition of 100 million pesos each year for the next 5 years. 
 Academic awards are exempt from taxes. 
 Equipment to be used for academic purposes is exempt from the customs duties. 
 The Board of Regents (BOR) has been strengthened with the addition of an Administrative 
 Staff Regent. 
 UP has more flexibility in the development of its assets. 
 Democratic access and governance have been affirmed. 
 SOURCE: UP System Information Office (UPSIO)