endIndex:
Metro Manila (CNN Philippines, March 3) – The last two packages of the Comprehensive Tax Reform Program (CTRP) and a measure that will aid pandemic-stricken small businesses are among the top legislative agenda of the Legislative-Executive Development Advisory Council (LEDAC) this year.
LEDAC determines and recommends to the President the top socio-economic development goals affecting national development.
Acting Socioeconomic Planning Secretary and LEDAC Secretariat Head Karl Kendrick Chua said these pending bills in Congress are important for the country s economic recovery amid the COVID-19 pandemic. These bills are crucial in ensuring the country s economic recovery and in regaining our development trajectory that was held back by the COVID-19 pandemic. We will continue working with Congress to move the legislative agenda forward and enact these priority legislations within 2021, said Chua.
Bank lending drops for 2nd month in a row
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Dominguez says strong private sector key to sustainable recovery this year
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BusinessWorld
February 24, 2021 | 7:53 pm
(Second of two parts)
In last week’s article, I touched on the basic features and provisions of Republic Act No. 11523, also known as the Financial Institutions Strategic Transfer (FIST) Act. The FIST Act aims to buoy struggling economy by increasing liquidity in the financial system. The law will serve as a catalyst for more efficient and less costly transfers of non-performing assets (NPAs), from the custody of the financial institutions (FIs) to FIST corporations (FISTCs), and ultimately to end-users, by granting certain tax and fee privileges on such transactions.
Unquestionably, the concept and spirit of the law is going to be a boon for the ailing economy. Now, the ball is in the court of the regulators who need to draft implementing rules and regulations, to ensure that the vision of the law is fully actualized. These are the factors they need to be considered.