THE Division of Funds Growth (DBM) mentioned Thursday that the contingent fund and native authorities help fund have been positioned on standby to help the federal government’s dwindling catastrophe funds.
Considerations have been raised concerning the depletion of the Fast Response Fund (QRF), which may be disbursed quickly in response to calamities. It could actually finance preparatory actions, aid, and rehabilitation.
Funds Secretary Amenah F. Pangandaman mentioned as of Oct. 2024 it had P30 billion.
“Nakita po natin na ‘yung mga ahensya tulad ng DSWD at DPWH, naubos na po nila ‘yung sa kanila. So humihingi na po sila ng replenishment (We’ve seen that the Division of Social Welfare and Growth and the Division of Public Works and Highways have run out of funding, and are asking for replenishment),”she mentioned in a press release.
The Departments of Agriculture, Schooling, Inside and Native Authorities, and Well being, in addition to the Philippine Nationwide Police, Bureau of Fireplace Safety, Workplace of Civil Protection, and Philippine Coast Guard even have entry to the QRF.
In response to the 2024 Basic Appropriations Act, the steadiness of the Nationwide Catastrophe Threat Discount and Administration Fund (NDRRMF) may be tapped to replenish the person businesses’ QRFs.
Replenishment could also be requested from the DBM as soon as QRF utilization hits 50%, the DBM mentioned.
Ms. Pangandaman standby funds can be found within the type of Unprogrammed Appropriations ought to the Contingent Fund would run out.
She added that businesses can request the DBM on to faucet the Native Authorities Assist Fund – Monetary Help to Native Authorities Models (LGSF-FA to LGUs).
Underneath Native Funds Round No. 155, LGSF-FA to LGUs could also be tapped for monetary help to LGUs for “implementation of packages, initiatives, and actions for catastrophe response, rehabilitation, and restoration, together with procurement or acquisition of catastrophe gear and automobiles for catastrophe response and rescue actions.”
Finance Secretary Ralph G. Recto has mentioned that the NDRRMF is almost depleted, including that the frozen P30-billion switch of Philippine Well being Insurance coverage Corp. (PhilHealth)reserve funds might have been used to fund it.
“It’s virtually gone. The Supreme Courtroom TRO (momentary restraining order) of P30 billion might have been used for calamities,” Mr. Recto advised BusinessWorld on the sidelines of the DBM finances deliberations.
The SC just lately issued a TRO on the additional switch of extra funds of PhilHealth to the Nationwide Treasury.
When requested methods to the federal government can fund future disasters, he mentioned the Philippines could have a “optimistic money steadiness by the tip of the 12 months.”
“We’ve agreements with the World Financial institution; if wanted, we are able to use mortgage proceeds for calamity victims,” Mr. Recto mentioned. — Aubrey Rose A. Inosante
