House OKs on 2nd reading bill seeking extension of Bayanihan 2’s validity

The House of Representatives on Wednesday approved on second reading the measure seeking the extension of the release, obligation and disbursement of funds provided under Bayanihan 2.

In a vote of ayes and nays, the lower chamber approved House Bill 9538. The Bayanihan to Recover as One Act is set to expire on June 30.

The proposed measure is seeking to extend the validity of Bayanihan 2 provisions until December 31 of this year.

Initially, the Bayanihan 2 had been set to expire on December 19, 2020, however, Republic Act 11519, signed in January, extended the validity of the appropriations until June 30, 2021.

During the House committee on appropriations hearing on the measure last week, the Department of Budget and Management said it already released all the funds under the Bayanihan 2 to all implementing agencies.

The DBM has said the cumulative obligation rate and the disbursement rate of the funds are being consolidated.

Bayanihan 2 provides a COVID-19 relief package worth P165.5 billion. A total of P140 billion will come from general appropriations while P25.5 billion will serve as a standby authority. — BM, GMA News