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Manila Bulletin devider Philippines devider National devider House just seven bills away from completing LEDAC list

House just seven bills away from completing LEDAC list

Published Aug 3, 2023 11:00 am
House Speaker Martin Romualdez (Speaker’s office)




Two down, only seven more to go. With the passage of House Bill (HB) No. 8443, which seeks to establish the Philippine Ecosystem and Natural Capital Accounting System (PENCAS); and HB No. 8456, or the Philippine Downstream Natural Gas Industry Development Act, the House only needs to approve seven more bills in order to complete the Legislative-Executive Development Advisory Council (LEDAC) list. “The approval of these twin measures manifests our firm commitment to the passage of the remaining LEDAC priority measures in line with the Agenda for Prosperity of President Ferdinand [Bongbong] R. Marcos, Jr.,” House Speaker Martin Romualdez said in a statement Thursday, Aug. 3. The House plenary session Wednesday saw the third and final reading approval of seven bills, two of which were HB Nos. 8443 and 8456. The two LEDAC bills were approved just two weeks into the second regular session of the current 19th Congress. When the first regular session was adjourned last May 31, the Romualdez-led lower chamber had managed to give final approval to 33 out of the erstwhile 42 priority measures identified by LEDAC. Subsequently added to the list by President Marcos were the proposed amendments to the Bank Deposits Secrecy Law and the Anti-Financial Accounts Scamming Act. But these have already been passed on third reading by the House months ago. This means that put of the 44 LEDAC measures, the House has passed 37 of them. The seven remaining LEDAC bills in the House of Representatives are the proposed National Employment Action Plan; Department of Water Services and Resources; amendments to the Electric Power Industry Act; Anti-Agricultural Smuggling Act; Budget Modernization; National Defense Act; and Unified System of Separation, Retirement and Pension for Uniformed Personnel. Romualdez had earlier vowed to approve all of these before the end of the year. Embodied in HB No. 8443, PENCAS is a framework that takes into account the country’s natural capital and its impact on the economy. It calls for the establishment of a system for the collection, compilation, and development of natural capital accounts in the government as a tool for development planning and programming, policy analysis, and decision-making. On the other hand, HB No.8456 seeks to establish the Philippine Downstream Natural Gas Industry (PDNGI) to promote the role of natural gas as a “safe, environment-friendly, efficient, and cost-effective source of energy".

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