Manila Bulletin
House set to approve legislative package to cushion COVID-19 impact
The House of Representatives' Defeat COVID-19 Ad Hoc Committee (DCC) approved three anti-COVID-19 measures to mitigate the pandemic's economic and social impact.
The Philippine Economic Stimulus Act (PESA), a P1.313 trillion measure, aims to hasten economic recovery and preserve jobs and businesses until 2021, with P568 billion allocated for 2020 and the rest for 2021.
The Financial Institutions Strategic Transfer (FIST) Bill aims to bolster the financial sector by creating FIST Corporations to manage and dispose of non-performing assets (NPAs) of financial institutions arising from the pandemic.
The COVID-19 Related Anti-Discrimination Act prohibits discrimination against individuals confirmed, suspected, or recovered from COVID-19, including healthcare workers and service providers.
Penalties for violations of the Anti-Discrimination Bill are severe, carrying imprisonment from one year to 10 years, or a fine of P200,000 to P1 million, or both.
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The House Defeat Covid-19 Committee approved on Tuesday, May 26, 2020, an economic stimulus package worth PHP1.3 trillion to aid the country's recovery from the pandemic.
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The House of Representatives' Defeat COVID-19 Committee has approved a substitute measure to House Bill 6709, also known as the COVID-19 Unemployment Reduction Economic Stimulus (CURES) Act of 2020.
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The Department of Trade and Industry (DTI) is urging for the swift passage of the Philippine Economic Stimulus Act of 2020 (PESA) to provide immediate relief to workers and businesses affected by the Covid-19 pandemic.
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Senate President Vicente Sotto III has proposed a P548 billion economic stimulus package through Senate Bill No. 1542 to aid the Philippines' recovery from the COVID-19 pandemic's socio-economic impacts.
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Albay Rep. Joey Salceda proposed that President Duterte call for a special session of Congress to pass urgent economic recovery bills.
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