CARLOS Dominguez, Department of Finance (DOF) secretary, said the government is preparing another economic package, with workers in the informal sector to be among those who will benefit from the support.
This new package is on top of the earlier announced P27.1 billion package of priority actions to help fight the coronavirus disease 2019 (COVID-19) pandemic, and provide economic relief to those affected by the slowdown in economic activity.
Dominguez told reporters via Viber over the weekend that the second economic package is “in the works” and will benefit “workers in the informal sector.”
Also part of the new package is a plan which will allow government-owned and -controlled corporation (GOCC) funds to be unleashed for an emergency program, he added.
Dominguez shared with reporters a statement of the Financial Executives Institute of the Philippines (FINEX) calling for an Emergency Calamity Amelioration Program, to urgently support and rescue the most vulnerable sectors of the society, who are feeling the brunt of this national calamity.
“We call on Congress to immediately authorize, in an enabling measure, President Rodrigo Duterte, to realign unspent or unobligated appropriations already embodied in this year’s General Appropriations Act for emergency calamity amelioration, as the President may deem necessary and appropriate under the circumstances and during the pendency of this public health and economic emergency,” FINEX said.
“We also urge that the President be authorized to augment such funds in the budget with those of GOCCs to be utilized for the same emergency purpose and duration,” it added.
Asked if the executive is open to put up such a program, Dominguez said: “Yes, we are.”
“To be determined by Departments of Social Welfare and Development/Interior and Local Government/Health, in consultation with local government units, which could result in a combination of providing food and/or cash subsidies for food, normal health care, and other necessities,” Dominguez said, when asked how exactly the GOCC funds could be released to support the emergency program.
