The House of Representatives has approved a joint resolution with the Senate mandating all government financial institutions, including the Pag-Ibig Fund, the Government Service Insurance System (GSIS) and the Social Security System (SSS) to suspend for at least three months the payment of loans and interest payments in the wake of the deluge caused by Typhoon “Ondoy.”
On Wednesday, Joint Resolution 47 authored in the House by South Cotabato Rep. Darlene Antonino Custodio and in the Senate by Sen. Francis Escudero, was adopted by the lower chamber. It aims to provide respite for Typhoon Ondoy victims.
“The relief mechanism being espoused by the government in the form of calamity fund releases and loans may not be enough considering that emotional, social and economic recovery proves to be difficult, especially if it concerns sudden loss of lives and dwellings,” the resolution stated.
It also said in order to realize a direct and immediate relief for the people affected by the typhoon, the government financial institutions must be mandated to step in and provide relief to victims of “Ondoy” in the form of suspension of loan payments.
The resolution also posited that private financial institutions should follow suit as a special policy for their corporate social responsibility program to address a unique and fortuitous situation.
Escudero and Custodio said the suspension of payment for at least 90 days will not hurt GFIs considering that most of them, if not all, registered positive investment and increase in assets.
Meanwhile, Malacañang yesterday lauded the House and the Senate’s initiative in creating a supplemental budget intended to help the government fund its relief operations and rehabilitation efforts for the catastrophe wrought by Typhoon Ondoy across Metro Manila and other parts of Luzon.
In a press briefing, Budget Secretary Rolando Andaya said the Palace was thankful to both Houses of Congress for coming up with such a proposal because it would certainly serve a great help to the government.
Andaya also said Malacañang is also hoping that Congress would also act upon its proposal for an increase in the specified calamity fund, which is currently at P2 billion, as mandated by the General Appropriations Act. –Daily Tribune
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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