House Speaker Lord Allan Velasco promised on Tuesday that he will speed up the plenary approval of the proposed Bayanihan that would help the Philippine economy recover from the COVID-19 crisis.
“As soon as we get back on May 17, we will fast-track the approval of Bayanihan 3,” Velasco said in a radio interview.
“Lahat po dapat mabigyan natin ng tulong ngayong pandemya. It has to be equitable. Hindi ‘yung isang household bibigyan ng certain amount eh baka tatatlo lang sila sa bahay tapos ang isang household naman ay 15 ang myembro. Dapat po pantay-pantay,” he added.
(Everyone should get aid in this time of pandemic. Every family should get equal amount of assistance.)
The proposed P420-billion appropriation under Bayanihan 3 were as follows:
- P52 billion for subsidies to small business for wages and other worker-related expenses;
- P100 billion for the capacity-building of businesses in critically impacted sectors;
- P108 billion for additional social amelioration to impacted households through programs of the Department of Social Welfare and Development;
- P70 billion for the provision of assistance and capacity-building to farmers, livestock producers and fishermen;
House Speaker Velasco commits to fast-track Bayanihan 3’s passage
- P30 billion for the implementation of unemployment assistance and cash-for-work programs under the Department of Labor and Employment;
- P30 billion for internet allowances to primary, secondary and tertiary students and teachers in public and private educational institutions;
- P5 billion to the Department of Public Works and Highways for the rehabilitation of typhoon-affected areas, including the repair, reconstruction and/or construction of flood control works, roads, bridges, public buildings and other damaged public works, to be distributed proportionately among provinces and cities affected;
- P25 billion to the Department of Health for the procurement of COVID-19 medication and vaccines, and to finance logistics, information awareness campaigns, and other related operational expenses.
Last week, the economic team of the Philippines is looking for additional sources of revenue to fund the Bayanihan 3 or the Bayanihan to Arise As One Act currently pending in Congress.
Finance Secretary Carlos Dominguez III said the economic team is now working with Congress leaders regarding the Bayanihan 3.