1-Pacman Party-list Rep. Mikee Romero has filed a bill that would set aside modernization funds worth P3 billion for the Philippine Institute of Volcanology and Seismology (Phivolcs).

Phivolcs logo

Romero authored and filed House Bill (HB) No. 3587 in order to make Phivolcs at par with the best global practices.

“Phivolcs shall continue to modernize and constantly update its operational capabilities to keep pace with best global practices,” the former deputy speaker said.

The measure seeks to provide modernization funds for Phivolcs to ensure that the country fulfills its commitments to international volcanology and seismology agreements.

“Phivolcs is a service and facility institute of the Department of Science and Technology (DOST) that is primarily mandated to alleviate disasters that arises from volcanic eruptions, earthquakes, tsunami and other related geotectonic phenomena,” Romero explained.

He added that it is necessary to modernize the agency for it to better provide timely and quality information and services for warning; disaster preparedness and mitigation, as part of the strategic initiatives; earthquake and volcanic hazards and risk assessments.

Romero proposed that the Phivolcs modernization fund should be sourced from the following: The amount of P3 billion to be taken from the share of the National Government in the gross income of the Philippine Amusement and Gaming Corp. (Pagcor) for two years after the effectivity of the Act, the amount of P1.5 billion per year shall be released to the Phivolcs.

The entire amount of P3 billion, including any interest income thereon, shall be used exclusively for capital outlay.

The modernization fund would be administered by the administrator of Phivolcs in accordance with the existing government budgeting, accounting and auditing rules and regulations, Romero said.

Source: Manila Bulletin (https://mb.com.ph/2022/08/24/house-bill-purses-phivolcs-modernization-with-p3-b-fund/?utm_source=rss&utm_medium=rss&utm_campaign=house-bill-purses-phivolcs-modernization-with-p3-b-fund)