The lower House constituted itself into a Committee of the Whole to approve a substitute bill consolidating House Bills 6811, 6868, 6952, and House Resolution 910.
The special powers granted to the President to combat the Covid-19 health emergency is only valid for three months, unless extended by Congress. The law was signed on March 24, 2020.
Another provision specified in the proposed measure is a PHP162-billion standby fund to support response measures to address the Covid-19 pandemic.
This standby fund includes PHP12 billion for the procurement of polymerase chain reaction (PCR) testing and extraction kits; PHP18 billion for the implementation of the cash-for-work program; PHP5 billion for the implementation of the Assistance to Individuals in Crisis Situation Program; PHP21 billion for the unemployment or involuntary separation assistance for displaced workers; and PHP50 billion for the infusion of capital to government financial institutions.
Also included in the funding are various forms of financial assistance for affected sectors: PHP21 billion for the agricultural sector; PHP21 billion for the transportation industry; PHP10 billion for the tourism industry; and PHP4 billion for the education sector.For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com
Copyright 2012. Philippines News Agency
