DBM lists priority bills as Congress resumes session

The Department of Budget and Management (DBM) on Tuesday released its priority legislative reforms agenda, which the Marcos administration would push for passage as Congress resumed session early this week.

In a statement, the DBM said that among the legislative reforms of the administration are the Progressive Budgeting for Better and Modernized (PBBM) Governance Bill, Budget and Treasury Management System (BTMS), National Government Rightsizing Program (NGRP), and Maharlika Investment Fund (MIF).

Budget Secretary Amenah Pangandaman said the legislative reforms are necessary “to promote transparency, efficiency and responsiveness in public service.”

“President Ferdinand R. Marcos Jr. articulated in his budget message that his vision is a lean, efficient and responsive government workforce. We can achieve this with the strong support of our hardworking legislators who also seek a well-functioning government that ensures swift and responsive public service delivery,” said Pangandaman.

In particular, the PBBM Governance bill seeks to institutionalize the Cash Budgeting System and other public financial management (PFM) to ensure the timely implementation of programs and projects.

Meanwhile, the BTMS is a key digitalization measure that aims to further enhance the Government Integrated Financial Management Information System.

As a central database, the BTMS will enable real-time mapping of transactions from purchase to payment.

The NGRP, on the other hand, seeks to upgrade the government’s institutional capacity to perform its mandate and provide better services while ensuring optimal and efficient use of resources.

MIF bill

The MIF bill, which was earlier as affirmed by the government’s economic managers, is seen as “a powerful instrument to promote economic growth and advance social development,” according to the DBM.

This can also aid in accelerating the implementation of the government’s key infrastructure and big-ticket projects that support the Philippine Development Plan, it said.

Marcos has earlier said that the MIF should be designed in such a way that the proposed sovereign wealth fund would fit the country's needs.

The House of Representatives has passed House Bill (HB) No. 6608 or the Maharlika Investment Fund Act (MIF) providing for an independent fund which shall be sourced from the investible funds of select government financial institutions (GFIs), from the contributions of the national government.

Under the proposed measure, the fund shall be used to invest on a strategic and commercial basis in a manner designed to promote fiscal stability for economic development and strengthen the top-performing GFIs through additional investment platforms that will help attain the national government’s priority plans.

Senator Mark Villar has filed the counterpart measure in the Senate. — RSJ, GMA Integrated News