Para may achievement! Lord Velasco bent on passing Bayanihan 3
The House of Representatives is determined to approve the proposed Bayanihan to Arise As One (Bayanihan 3).

Para may achievement! Lord Velasco bent on passing Bayanihan 3

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By Billy Begas

The House of Representatives is determined to approve the proposed Bayanihan to Arise As One (Bayanihan 3).

Speaker Lord Allan Jay Velasco said the House will hasten the approval of the measure once it resumes session on May 17.

Velasco and House Deputy Minority Leader and Marikina Rep. Stella Luz Quimbo authored the unnumbered proposal that was approved earlier by the House Committees on Economic Affairs, on Social Services and on Ways and Means.

The P405.6 billion Bayanihan 3 includes the P216 billion fund that will be distributed to 108 million Filipinos or P1,000 each in two tranches.

“Lahat po dapat mabigyan natin ng tulong ngayong pandemya,” Velasco said.

Velasco said “it has to be equitable. Hindi ‘yung isang household bibigyan ng certain amount e baka tatatlo lang sila sa bahay tapos ang isang household naman ay 15 ang miyembro. Dapat po pantay-pantay.”

The proposal will also allocate funds for capacity-building for impacted sectors, wage subsidies, capacity-building for agricultural producers, and internet allowances for students and teachers.

To fund the proposal, the Bangko Sentral ng Pilipinas (BSP) will be authorized to make additional advances with or without interest to the national government to finance expenditures to address the COVID-19 pandemic.

The measure will also increase from 50% to 75% the mandatory dividend remittances by Government-Owned and Controlled Corporations (GOCCs) and to grant the President the power to withdraw capital from overcapitalized GOCCs.

Velasco said the first two Bayanihan laws were “not sufficient for the genuine economic recovery of the country.”

He said the third economic stimulus package will provide the much-needed lifeline to individuals, families and businesses severely affected by the pandemic.

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