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Jul 26

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P5.7 T '24 national budget to Congress-DBM

By Nidz Godino

"Once this budget submission happens, then we will finish it before our October break…we average five weeks of solid work on budget deliberations, consideration, review and approval through third reading," House of Representatives Speaker Martin Romualdez told reporters in  chance interview as per practice,  Department of Budget and Management (DBM) will turn over to lower chamber proposed P5.768-trillion national budget for 2024 shortly after President Ferdinand  Marcos Jr. delivers his second State of the Nation Address (SONA).

Romualdez,  heads  lower legislative chamber,  was informed by  economic managers about  plan to "immediately" submit  bill,  most important piece of legislation  lawmakers discuss every year.

 "So we are confident with  processes and protocols and procedures  we have that we can finish  deliberating on our national 2024 budget… most important piece of legislation," Leyte congressman said.

Romualdez said  "aims to sustain  country's economic growth, create more income and job opportunities for  people and improve their quality of life through timely delivery of basic social service like education, health care and infrastructure."

Speaker, meantime, assured  military and uniformed personnel (MUP)  P120 billion needed for  pension fund of retired soldiers, policemen and other uniformed personnel will be resolved this year.

Romualdez, represents Leyte's first district, had directed  members of  House committee on appropriation and  ways and means committee to find ways to raise P120 billion this year for  MUP pension fund.

He said  government needs P120 billion annually or P3.6 trillion for next 30 years to resolve  problems of  MUP like  backlog and growing number of retirees every year.

Romualdez said this fund must self-generate, like President said, to avoid depleting  pension fund and let it earn and grow beyond those 30 years.

"We have to take care of our troops and our uniformed personnel for they keep our nation and people safe every day,"  House leader,  senior administration stalwart and first cousin of  Chief Executive, said.

FMJ had tasked Congress to search for funds to be allocated to pay  pension of  uniformed personnel.

House Deputy Minority Leader Bernadette Herrera hope FMJ will make another pitch for  creation of  Department of Water Resources (DWR).

Herrera,  represents  Bagong Henerasyon party-list in Congress, said establishment of  department dedicated to water resource management has never been more important and urgent amid  growing water crisis.

"We look forward to how the President plans to address  growing water crisis…we expect him to lay down  comprehensive blueprint, which should include  creation of DWR,"  opposition legislator said.

Herrera was also hoping FMJ will support her proposal to create  Water Regulatory Commission that would be in charge of regulating water services in the country.

Last March, FMJ issued  executive order creating Water Resources Management Office to manage  country's water resources and to respond to  current environmental challenges.


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