Banking & Finance

Senate approves 2019 National Budget

Date: 21 January 2019; Type: Legal News; Source: Philippines News Agency

MANILA, Jan 21 (PNA) - The Senate approved on third and final reading the proposed PHP3.757-trillion 2019 national budget or the General Appropriations Bill (GAB) on Monday.

The 2019 GAB was approved with 14 affirmative votes, no negative vote, and zero abstention. The third reading approval came two months after the House approved the bill on third reading on November 20.

President Rodrigo Duterte’s certification paved the way for the Senate to pass the spending bill on both the second and third reading within the same day.

Among the notable amendments of the upper chamber is the reduction in the budget of the Department of Public Works and Highways (DPWH) due to the cut in the right-of-way (ROW) allocations and various projects, which are not part of the agency’s original budget proposal submitted to the Department of Budget and Management (DBM).

Senator Loren Legarda, chair of the Senate Committee on Finance, said the cut will be partially offset by the increase in local projects.

Another amendment is the restoration of part of the proposed 2019 budget of the Department of Health (DOH) for the development of its health facilities and human resources. This includes PHP16.796 billion for the Health Facilities Enhancement Program (HFEP) and PHP4.787 billion for the human resources for health development.

The government has been operating under a reenacted budget since January 1 this year after Congress failed to pass the 2019 national budget on time due to allegations of “pork” insertions.

The center of controversy is the PHP75 billion worth of additional funds allegedly “inserted” by the DBM into the DPWH budget.

The Senate moved for the deletion of the questionable PHP75-billion “insertion” from the budget of the public works department upon the motion of Senator Panfilo Lacson.

Lacson said he expects the bicam meeting to be "bloody" and "sweaty", as both chambers iron out differences in their respective versions.

Notice: The Publishers of Asean LIP acknowledge the permission granted by the relevant official/ original source for the reproduction of the above/ attached materials. You shall not reproduce the above/ attached materials in whole or in part without the prior written consent of the Publishers and/or the original/ official source. Neither the Publishers nor the official/ original source will be liable for any loss, injury, claim, liability, or damage caused directly, indirectly or incidentally to errors in or omissions from the above/ attached materials. The Publishers and the official/ original source also disclaim and exclude all liabilities in respect of anything done or omitted to be done in reliance upon the whole or any part of the above/attached materials. The access to, and the use of, Asean LIP and contents herein are subject to the Terms of Use.

Get ASEAN LAW ALERT

Legal updates by e-mail. It's Free.

INDUSTRY UPDATES

Decision on Minimum Wage Increases due in March

BANGKOK, Feb 13 (NNT) - The final decision on Minimum Wage increases will be made in March, with new rates to vary in accordance with economic conditions in each province.

Read More

INDUSTRY UPDATES

No Violation of Ressa's Civil Rights: DOJ

MANILA, Feb 14 (PNA) - Justice Secretary Menardo Guevarra on Thursday assured full protection of the civil rights of online news website Rappler's publisher Maria Ressa, who was arrested on Wednesday in connection with a cyber libel complaint filed against her and the media firm by a private individual.

Read More

INDUSTRY UPDATES

DOTr inks Deal on Common Station Construction

MANILA, Feb 13 (PNA) - The Department of Transportation (DOTr) on Wednesday signed a contract with a private consortium for the construction of Area A of the Unified Grand Central Station (UGCS) or the common station which is located between SM North Edsa and Trinoma in Quezon City.

Read More

INDUSTRY UPDATES

Men too face Sexual Harassment at Workplace

SUNGAI PETANI, Feb 14 (Bernama) - Men too have been recorded as being victims of sexual harassment at the workplace, said Women, Family and Community Development Deputy Minister, Hannah Yeoh.

Read More

INDUSTRY UPDATES

LHDN launches eProcurement System, Suppliers' Portal

CYBERJAYA, Feb 13 (Bernama) - The Inland Revenue Board (LHDN) has launched the eProcurement (eP) system and the Suppliers’ portal as a continuous effort to improve service delivery to suppliers or tenderers dealing with the agency.

Read More

INDUSTRY UPDATES

Government affirms NCPO Order 2/2019 is Fake

BANGKOK, Feb 11 (NNT) - The Government has affirmed that the circulating NCPO Order 2/2019 is fake.

Read More

INDUSTRY UPDATES

ASEAN Secretariat calls for Nominations for ASEAN Prize 2019

Jakarta(ANTARA News) - Jakarta-based ASEAN Secretariat calls for nominations for the prestigious regional award ASEAN Prize 2019 acknowledging an individual`s or organization`s inspiring and outstanding achievements in fostering the ASEAN identity, promoting ASEAN spirit, and championing ASEAN way.

Read More

INDUSTRY UPDATES

Thousands of Workers march for stronger Labour Laws

Thousands of workers on Sunday marched in downtown Yangon to demand that the country’s labour laws meet International Labour Organisation (ILO) standards.

Read More

INDUSTRY UPDATES

ASEAN NCAP labelling Guideline Compliance to become Compulsory from March 2020

PUTRAJAYA, Feb 12 (Bernama) - Starting March 1 next year, automotive companies selling motor vehicles in Malaysia will be compelled to comply with the ASEAN New Car Assessment Programme (ASEAN NCAP) Labelling Guideline.

Read More

INDUSTRY UPDATES

New Policies, Incentives needed under EAC to spur Investments

KUALA LUMPUR, Feb 12 (Bernama) - New policies and incentives must be formulated to encourage both domestic and foreign private investments for the newly minted Economic Action Council (EAC) to achieve its aim of stimulating sustainable growth.

Read More

INDUSTRY UPDATES

SC Chairman elected Vice Chair of International Organisation of Securities Commission

KUALA LUMPUR, Feb 12 (Bernama) - The Securities Commission Malaysia (SC) chairman Datuk Syed Zaid Albar has been elected vice-chair of the International Organisation of Securities Commissions (IOSCO) Growth and Emerging Markets (GEM) Committee.

Read More

INDUSTRY UPDATES

Economic Action Council formed

PUTRAJAYA, Feb 11 (Bernama) - The Prime Minister’s Office (PMO) today announced the establishment of the Economic Action Council, which is tasked with scrutinising and making decisions regarding economic and financial affairs as well as the people's well-being.

Read More

INDUSTRY UPDATES

NGOs call for Speedy Passage of Information Freedom Law

A group of 19 non-governmental organisations and associations have urged the Kingdom’s legislative and executive bodies to expedite the passage of a draft law on freedom of information, which the group said had been delayed for years.

Read More

INDUSTRY UPDATES

Najib's New Money Laundering Case transferred to High Court

KUALA LUMPUR, Feb 11 (Bernama) - The case of former prime minister Datuk Seri Najib Tun Razak involving three additional charges of money laundering to the tune of RM27 million of SRC International funds will be heard in the High Court.

Read More

INDUSTRY UPDATES

Labor Minister holds event to Promote Health Insurance

CHONBURI, Feb 8, (NNT) - The Ministry of Labour has held an event to promote health among insurance policyholders in Amata City Industrial Estate in Chonburi Province, providing medical check-ups for employees from various companies operating in the estate.

Read More