FINANCE Secretary Benjamin Diokno addressed rumors that he is on his way out.

Diokno, who neither confirmed or denied the rumors, simply said that he serves at the pleasure of the president.

Earlier reports said that Congressman Ralph Recto is set to replace him.

"I serve at the pleasure of the president. I will work until, as long as I’m needed in the government," he said.

Diokno made the remark when asked if he is looking to retire.

When asked if the president is still happy with his work, Diokno said, "I think so, yes."

Earlier, it was reported that Diokno would head the Maharlika Investment Corp, and Recto would replace him in Finance. 

But Diokno shut down those rumors, and the Palace announced that Rafael Consing Jr was going to head the Maharlika Investment Corporation.