The House of Representatives and the Senate have agreed on the Php 162 billion budget for the proposed Bayanihan to Recover as One (Bayanihan 2) Law, Senate Minority Leader Franklin Drilon disclosed.
The Senate earlier approved a Php 140 billion budget for its version but it has been raised to more than Php 160 billion, following the agreement of both houses.
The Senate version of Bayanihan 2 funding includes Php 10 billion for the procurement of PCR Testing and extraction kits, supplies, materials, and reagents; Php 15 billion for the implementation of cash-for-work program and the TUPAD; and Php 17 billion for unemployment or involuntary separation assistance for displaced workers or employees. It also allocates Php 50 billion for the infusion of capital to government financial institutions with Php 5 billion going to the Philippine Guarantee Corporation, Php 30 billion to Landbank, Php 15 billion to Development Bank of the Philippines; Php 17 billion for the assistance to the Agriculture sector; Php 10 billion for transportation assistance; Php 10 billion for the tourism sector assistance; and Php 3 billion for assistance to state universities and colleges.
Drilon said that also included are funds for the social amelioration program (SAP) that will grant Php 5,000 to Php 8,000 cash subsidy to poor families, Php 15,000 for healthcare workers with mild cases of COVID-19 and Php 100,000 for those who have severe symptoms, and Php 1 million for those who will succumb to the disease.
The discussion at the bicameral conference committee for the final budget allocation for Bayanihan 2 is ongoing. – Report from Eunice Samonte
