The Market Monitor Minding the Nation's Business
By Riza Lozada
The Philippine Postal Corp. (Philpost) is under criticism for featuring twice a living person—Manny Pacquiao—on its special stamp.
A source from Philpost said the Pacquiao stamp is a revenue driver, but observers said Pacquiao is already in the stamp “not once, but twice.”
In the calendar of Philpost 2015 stamps, Pacquiao was not listed, but after the confirmation that he would be fighting with undefeated boxer Floyd Mayweather Jr. came, Philpost decided to release the Pacquiao stamp.
The decision was based on a collegial body ruling including Philpost and several agencies with authority to approve stamp release according to Philpost source.
With Pacquiao losing his fight with Mayweather, this did not translate to diminishing the value that stamp collectors placed on his stamp, Philpost source said.
Philpost said that his future fights will make his stamp appreciate in value for stamp collectors.
Pacquiao was released in stamp when he fought with boxer David Diaz in 2008. The price of the stamp was P7 compared to the 2015 stamp that costs P10.
Philpost has been ramping up efforts to raise income including leasing its temperature controlled warehouse to the Department of Health.
In 2014 Miss World 2013 Megan Lynne Young was one of the living person immortalized in the Philpost special stamp.
The practice of “immortalizing” living persons through stamps was questioned by a Philpost source who asked whether Philpost exceeded its authority in featuring Pacquiao twice in a special stamp.
However, the Philpost source told The Market Monitor that Pacquiao in the special stamp would be a “revenue growth driver” and would be a fitting design in its effort to maximize the newest technology from its printing of stamp.
With Pacquiao in the special stamp, the sales from this issuance were expected to add revenues for Philpost, the source said.
One technology available from PHLpost included the scented stamp it released for the former President Corazon C. Aquino.
In April Philpost released special postage stamps “in support of the boxing icon and national pride” Representative Manny Pacquiao.