Budget Secretary Benjamin Diokno announced today that the Department of Budget and Management (DBM) has released P448 M to the Department of Labor and Employment (DOLE) to cover the financial assistance for the affected 17,735 registered formal sector workers in Malay, Aklan due to temporary closure of Boracay Island. This funds will be used for the emergency employment, livelihood, and training programs for the six-month shutdown and rehabilitation of the resort island.
The Budget Chief said the funds were charged against the FY 2018 Contingent Fund in the national budget. The General Appropriations Act (GAA) of 2018 appropriated the amount of P13 B as Contingent Fund, which may be used to cover the funding requirements of new or urgent projects and activities of the National Government Agencies and GOCCs, subject to approval of the President.
Meanwhile, the Boracay Emergency Employment Program (BEEP) which was recently launched by DOLE ensures the safety nets are in place, including the Micro, Small and Medium Enterprises (MSMEs) in Boracay.
Among the safety nets which were agreed to be pursued by the BEEP working group is the financial support under the DOLE’s Adjustment Measures Program (AMP). Under this program, worker-beneficiaries shall get 50 percent of the prevailing minimum wage rate in the region for six months, which shall be linked to employment facilitation, training and livelihood programs.
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