The House of Representatives has successfully passed a series of bills that aim to address the country’s socioeconomic development. These bills, which were identified as priorities by President Ferdinand “Bongbong” Marcos Jr.’s advisors and supported by the Private Sector Advisory Council (PSAC), are now closer to becoming law. This progress brings the House closer to meeting its June 2024 deadline for priority bills.
During regular council meetings with President Marcos Jr., the PSAC highlighted three specific bills that they believed should be prioritized by the government. These bills include legislation to impose a value-added tax on digital services, an E-Governance bill, and a bill that would establish the Department of Water Resources and Services. The House Speaker, Martin Romualdez, announced that these bills, along with 16 others, have been approved on their third and final reading by the House of Representatives as of March 19.
The PSAC Infrastructure Sector, led by PSAC Lead Convenor and Aboitiz Group President and CEO Sabin Aboitiz, has been advocating for the establishment of a national governing body for water resources since March of last year. The PSAC recommended this bill be certified as urgent, along with the adoption of an Integrated Water Resources Management Program.
“As a member of the Private Sector Advisory Council, we help urge swift action by recommending the passing of key bills such as the digital service tax, E-Governance, and the Department of Water Resources. Establishing a national governing body for water resources is crucial for sustainable management,” said Aboitiz.
With the House passing these bills, they will now move on to the Senate for further approval. Speaker Romualdez mentioned that the House has already addressed all but three of the 59 priority bills brought up by the Legislative-Executive Development Advisory Council (LEDAC). Thus far, President Marcos Jr. has signed 14 of them into law, including the recently passed Philippine Salt Industry Development Act and the New Philippine Passport Act.
The Private Sector Advisory Council (PSAC) was strategically created by President Ferdinand “Bongbong” Marcos Jr. to foster collaboration between the private and public sectors. Comprising business leaders and sector experts from various industries, the PSAC focuses on agriculture, digital infrastructure, jobs, healthcare, build-build-build, and tourism. The council aims to support the government’s efforts to transform the Philippine economy by implementing robust infrastructure programs, creating more jobs, attracting investors, digitizing processes, improving agricultural productivity, jumpstarting Philippine tourism, and fostering a fair and inclusive business landscape for Filipinos. The PSAC will continue to provide modern policy recommendations to the government and regularly report to the President to adjust recommendations based on real-time observations and feedback.