Before his childhood friend Rodrigo Duterte decided to run for president of the Philippines, Carlos “Sonny” Dominguez used to spend his days hunting a white-tailed deer in Idaho and watching episodes of “Narcos” on Netflix.
Now, instead of following the escapades of narcotics kingpin Pablo Escobar on TV, he has a drug war at home to pay for. As Duterte’s finance minister since last year, it’s Dominguez’s job to ensure his old companion can afford to implement election promises to wipe out drug dealers and boost police pay, while cutting income tax and finding billions for infrastructure projects.
To raise the money, Dominguez is pushing for a package that will raise levies on automobiles and fuel to boost annual revenue ultimately by 162.5 billion pesos ($3.2 billion). Politicians want only the populist measures passed.
“You have to have an agenda, finish it, then go,” said Dominguez, who, like Duterte, is 71.
It’s a mantra that he’s repeated many times in a career that spans half a century and includes top jobs at some 20 companies, including banking, real estate, hotels, agriculture and mining. He was once at the helm of Philippine Airlines Inc., Philippine Associated Smelting and Refining Corp. and BPI Agricultural Bank before focusing on his own businesses.
Agriculture Minister
He ran the ministry of natural resources and then agriculture during Corazon Aquino’s presidency in the late 1980s. Dominguez said he had no desire to return to public service but agreed to do so after running the fundraising campaign for Duterte’s election bid.
“I didn’t expect to be asked. I’m an old tired horse,” Dominguez said in a Jan. 17 interview in his office overlooking Manila Bay, where a powerful spotting scope allows him a close-up view of the luxury boats at the yacht club and of “women sunbathing,” he jokes.
Dominguez is part of a close circle that Duterte admits is limited to his law school, college dorm mates in Manila and those from Davao, the city where he grew up.
Few are as close as Dominguez. In the 1950’s, their families lived in a middle-class downtown neighborhood of Davao City called Matina, their homes separated only by an empty lot. Dominguez said “Dut” was a rowdy boy, the family’s black sheep. For Duterte, Sonny is the friend who ate better food, dressed smarter and got higher grades.