Congress to OK realignment of P275-B for COVID-19 response – Salceda
MANILA, Philippines — Congress will allow President Rodrigo Duterte to realign almost P275 billion from the national budget to sustain the government ‘s response to the coronavirus disease 2019 (COVID-19) crisis , including support for families affected by the enhanced community quarantine in Luzon.
Albay 2nd District Rep. Joey Salceda said almost P144 billion of this amount would be earmarked for 17.9 million Filipino families which will each receive an P8,000 financial assistance.
He said families who are extremely well off and whose jobs were not affected by the quarantine are not covered by the financial assistance program.
“I think Congress tomorrow will essentially approve just one sentence, allowing the President to realign almost P275 billion,” Salceda said in the Laging Handa press briefing hosted by the Presidential Communications Operations Office.
“Ini-imagine natin na 73 percent of all families, if you have any of these conditions, [you will receive the financial assistance]: one if you are a minimum wage earner not allowed to go to work, second [if, for example], you are a tricycle driver prevented from plying your route, jeepney drivers, ‘yung lahat po ng hindi natin pinatrabaho (all those we did not allow to work),” he said.
Part of the total amount would also go to hazard pay or incentives of frontliners in the drive against the coronavirus disease pandemic, according to Salceda.
Congress is scheduled to hold a special session on Monday to pass a bill that would allow Duterte to realign the funds.
Aside from the P275 billion realignment of funds, Salceda said the government may also provide negative interest rate loans for companies affected by the quarantine, which started on March 17 and will end at midnight on April 13.
Magkano ba ‘yung pasahod mo? Let’s say nagpapasweldo ka ng P100 million a year so 50 percent pwede ka pautangin ng gobyerno through Landbank and DBP (Development Bank of the Philippines) tapos imbis na magbayad ka ng 100 [million], magbabayad ka lang ng 90 [million] bilang incentive ng government,” he said.
(How much are you paying your employees? Let’s say you are paying them P100 million a year. You can avail of a loan from the government for 50 percent of that amount through Landbank or DBP, and instead of paying P100 million, you only have to pay 90 million as incentive from the government.)
GSG
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