House panel extends Bayanihan 2 validity until June 2021

The House Committee on Appropriations on Friday approved the extension of the validity of Bayanihan to Recover as One Act until June 30, 2021 amid the COVID-19 pandemic.

The Bayanihan to Recover as One Act or Bayanihan 2 is set to expire on December 19, 2020 upon the adjournment of session of Congress.

During a hearing on Friday, Northern Samar Representative Paul Daza expressed his reservations on the extension since the Department of Budget and Management (DBM) could not say how much of the 2020 budget has been released.

DBM Assistant Secretary Rolando Toledo, however, said P102 billion of the total P165-billion appropriation under the Bayanihan 2 has already been released.

The Bayanihan 2 law allowed President Rodrigo Duterte to realign the budget of respective agencies to fund the country’s COVID-19 response.

The Bayanihan 2 includes a P10 billion budget for COVID-19 testing procurement of medication and vaccines, while P15.52 billion has been earmarked for additional capital infusion to government banks.

Likewise, Bayanihan 2 provides P50 billion to government financial institutions such as Land Bank of the Philippines, Development Bank of the Philippines, Philippine Guarantee Corp., and Small Business Corp. to provide soft loans to affected sectors. 

In the Senate, a bill seeking the extension of the validity of Bayanihan 2 has been filed by Senator Ralph Recto. --KBK, GMA News