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Updated:2025-01-30 03:26 Views:161
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MANILAmwplay888, Philippines — The Senate on Monday ratified a measure reorganizing the National Economic and Development Authority (Neda) into the Department of Economy, Planning, and Development.
It was contained in the bicameral conference committee report on the disagreeing provisions of Senate Bill No. 2878 and House Bill No. 11199, otherwise known as the Economy, Planning, and Development (DEPDev) Act.
In his short manifestation delivered during the chamber’s plenary session, Sen. Juan Miguel Zubiri enumerated the amendments made in the bicam report.
“I am confident,” he said of the EU-Canada Comprehensive Economic and Trade Agreement’s (CETA) eventual ratification in the EU and France.
The United States Maritime Alliance (USMX), which represents shipping companies and terminal operators, said it filed an unfair labor practice complaint against the International Longshoremen’s Association (ILA).
Article continues after this advertisementREAD: Neda reorganization gets Bicam OK
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“Foremost among the amendments made in the bicam is a transitory provision empowering the President to retain the incumbent Secretary of the Neda as the inaugural Secretary of the DEPDev, without need of a new appointment, to facilitate the continuity of plans, programs, and policies throughout the period of transition,” said Zubiri.
Article continues after this advertisement“The President may also request the DEPDev for its recommendation on budget appropriations that are not aligned with the long-term development framework, which may then be vetoed or subjected to conditional implementation,” he added.
Article continues after this advertisementA provision establishing a subcommittee on inflation monitoring and market outlook under the economic development committee was inserted, noting that it would serve as “an advisory body on measures that will keep inflation within the government’s targets.”
As proposed in the bill, Neda would become the government’s primary economic and planning agency and be renamed DEPDev, tasked with formulating the country’s long-term development framework.
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