Philippine senator files bill for 335-billion-peso stimulus package

Senator Manny Pacquiao has filed a bill calling for a 335-billion-peso (US$6.9 billion) stimulus package in the Senate.
By: | March 26, 2021

Senate Bill number 2123 calls for an expansion in the country’s stimulus package to boost the government’s existing strategies to mitigate the fallout from the pandemic.  

The bill seeks to address “the gaps in our policies while maintaining transparency measures among our agencies. This measure aims to completely mend all the short-term and long-term courses of action of different governmental sectors so as to provide an institutional approach to this national turmoil”. 

Under the bill, 100 billion pesos (US$2 billion) each will be allocated for helping low-income individuals, households, and homeless; for workers’ subsidy; and for capacity building of critically affected sectors.  

Another 30 billion pesos (US$616 million) will fund assistance to displaced workers, 3 billion pesos (US$61.6 million) for internet allowance of public-school teachers and students under the K-12 programme, and 2 billion pesos (US$41 million) for the Commission on Higher Education to fund the internet allowance of tertiary-level teachers and students. 

The government had earlier passed two stimulus packages –Bayanihan 1 and 2 – which aim to fund programmes that address the adverse impact of the global health crisis like healthcare system capacity, unemployment, and depressed consumer confidence and slumped business activity. 

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Other lawmakers have earlier filed different versions of their so-called Bayanihan 3 that also aims to provide additional assistance to affected sectors and revive the recession-hit economy. However, most of these are still pending at the committee level, according to CNN Philippines.