Senator Sherwin Gatchalian has filed a bill seeking to strengthen the current setup of the National Econoic and Development Authority (NEDA) by institutionalizing it as an independent economic and planning agency.

In filing Senate Bill No. 1060, Gatchalian said institutionalizing NEDA will help ensure the country’s long-term sustainable economic future.

The bill primarily seeks to strengthen NEDA by implementing continuing integrated and coordinated long, medium, and short-term development plans to achieve full employment towards sustainable and inclusive economic growth; equitable distribution of opportunities, income, and wealth; and increased productivity to raise the quality of life.

“It is not enough that we have a national development plan. To effectively implement such a plan, NEDA must gain independence so that its economic development goals are sustained for the long haul,” Gatchalian said.

The senator noted that prioritization of the country’s development goals tends to vary depending on a sitting administration’s political commitments.

NEDA was originally created by Presidential Decree No. 107 dated January 24, 1973, and subsequently reorganized by virtue of Executive Order No. 230 series of 1987.

According to the senator, the measure aims to instill a culture of planning in the formulation and implementation of the Philippine economic and development policies that calls for the participation of public and private sectors at the national and sub-national levels.

NEDA, as envisioned under the bill, will be tasked to enhance decentralization and strengthen the autonomy of units within various regions of the country to accelerate their economic and social growth and development.

Under the bill, the NEDA Board, which will be chaired by the President of the Republic, shall meet once every quarter or hold special meetings whenever there are urgent concerns or emergencies such as natural disasters, calamities, or other extraordinary circumstances which would affect the economy and national development.

Together with the Department of Budget and Management (DBM) and other relevant government oversight agencies, the senator said the NEDA Board shall also ensure that the annual and multi-year appropriations for programs and projects are aligned with the development strategies in the Medium-Term Philippine Development Plan (MTPDP) and Medium-Term Regional Development Plans (MTRDPs).

NEDA, also under the bill, will also be tasked to endorse to Congress the integrated development plans and programs which will serve as basis for the annual budget review and deliberation.