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The bicameral conference committee has agreed to
increase to P50 billion the P10-billion Economic Stimulus Fund
proposed by the Senate in the 2009 budget, Sen. Edgardo Angara said
Monday.
He said the 50-billion stimulus
fund would be sourced from the cut in debt servicing and not from
cuts in the individual budget of government agencies.
Angara, chairman of the Senate
Committee on Finance and of the Senate panel to the bicameral
conference, told The Manila Times the fund is meant to enable the
country to cope with the global economic crunch.
He laughed off reports that
describe the Economic Stimulus Fund as the biggest insertion by the
Senate in the budget, and that it is causing the main hurdle in the
reconciliation of the House and Senate versions of the
P1.415-trillion budget bill.
“The agreement by the House to
even increase the P10 billion proposed by the Senate to P50 billion
is proof that there is no such problem,” Angara said, as he
expressed confidence that the 2009 budget would be approved when the
Fourteenth Congress resumes its Second Regular Session later this
month.
He allayed fears that the
Economic Stimulus Fund would constitute a huge pork barrel for
President Gloria Arroyo, which she could use as she pleases, and
said “the use of the P50 billion will be sufficiently described
although not to the minutest detail because that is not our job,”
Angara said.
The Fund includes Reintegration
Assistance for Returning Overseas Workers, a Rural Micro Enterprise
Program, Livelihood Projects, environmental protection, Skills
Development Training and an Agricultural Support Fund.
“We will break down the P50
billion to specific projects but with broad criteria to keep it from
being used at the sole discretion of the executive department,”
Angara said.
He cited environmental protection
as one concern that the Economic Stimulus Fund would propagate.
“This involves protection of
watersheds and coastal resources. To do this, we must hire more
forest guards and Bantay Dagat, provide patrol boats for a cluster
of coastal towns, and enhance the use of sea cases,” he said.
Angara cited a study by the
Bureau of Fisheries and Aquatic Resources that a 200-square meter
sea case can produce more bangus (milkfish) than a hectare of
fishpond.
He said: “The Fund will
allocate P1 billion for vocational training vouchers. Vocational
graduates are in great demand abroad. P2 billion more will be for
college degree program with standard to be set by the Commission on
Higher Education and with the fund to be disbursed by rural
banks.”
Another key component of the
Fund, according to Angara, is the allocation of P5 billion for the
building of classrooms.
“This is on top of the extra P6
billion we gave to the Department of Education [DepEd] for the
building of more classrooms and science laboratories for both
elementary and secondary education and recruitment and training of
science teachers,” he said.
The bicameral conference
committee has agreed on the adoption of a budget provision
authorizing DepEd to contract private contractors for the
construction of classrooms.
“Classrooms built by the
Department of Public Works and Highways cost 30 percent more,” he
decried.
Other items to be included in the
Fund coverage are two new research institutes on Renewal Energy and
an Industrial Research Corporation that would act as incubator for
new industries.
--Efren L. Danao
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