Connect with us

Hi, what are you looking for?


Palace lukewarm on Bayanihan III; funds limited

THE third Bayanihan stimulus law proposed by Congress is not necessary for now, the President’s spokesman said, noting the need to allow previous economic packages to run their course as well as the uncertainty of funding another multi-billion peso revival measure.

Sa totoo lang po ang passage ng bills ay also dependent on the availability of funds. So titingnan po natin kung kailangan talaga ‘yan at may possible fund sources (The truth of it is that all bills are dependent on the availability of funds, so we will need to study whether a new round of stimulus is necessary and can be funded),” Spokesman Herminio L. Roque, Jr., said at a televised briefing Tuesday.

Speaker Lord Allan Q. Velasco and Marikina Representative Stella Luz A. Quimbo earlier filed House Bill No. 8031, which if passed will become the Bayanihan to Arise as One Act (Bayanihan III). It provides for a third round of stimulus measures worth P420 billion, significantly larger than the amounts eventually approved for Bayanihan I, signed in March, and Bayanihan II, which became law in September.

Mr. Roque called the current stimulus measures sufficient, including the P4.5-trillion national budget, which is focused on reviving the economy. 

He also noted that President Rodrigo R. Duterte extended the effectivity of Bayanihan II, more formally known as Republic Act No. 11494 or the Bayanihan to Recover as One Act. The package, worth up to P165 billion to fund the response to the pandemic, had originally been due to expire on Dec. 19.

Separately, the head of the government’s vaccine procurement and distribution effort, Secretary Carlito G. Galvez, Jr., said he welcomed measures that facilitate the procurement and import of vaccines.

Iyong mga kailangan po natin na mga law na maipasa para matulungan po tayo na mapabilis po ‘yung pagpunta po dito ng vaccine (What we need right now are laws that expedite the arrival of vaccines),” he said at a televised meeting of Cabinet officials late Monday, in remarks quoted by a Palace statement, in which he thanked Congress for the effort to legislate Bayanihan III. 

He specifically cited provisions in the Bayanihan III bill to indemnify vaccine recipients that suffer from side effects after being administered their shots and to grant vaccine imports tax and duty exemptions. — Kyle Aristophere T. Atienza

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The Bank of the Philippines Islands (BPI) secured back-to-back awards from a multitude of notable local and regional awarding entities throughout 2022. These recognitions...


A glittering night of celebration for the UK’s 140 finalists of the Business Champion Awards. Over 300 guests filled the East Wintergardens in London’s...


THE PHILIPPINE government should take time to study the transport modernization program and execute it properly rather than rush the whole process, according to...


Shinagawa Healthcare Solutions Corp. is preparing to open a diagnostic and preventive care center in Bonifacio Global City (BGC) next month, the company’s president...


The Philippine government is planning to launch a retail dollar bond offering next month, Finance Secretary Benjamin E. Diokno said. “We plan to launch...


Fisherfolk, farmers, children, and individuals residing in rural areas remained the poorest sectors in 2021, according to the Philippine Statistics Authority (PSA). Preliminary estimates...

You May Also Like


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.