The Department of Finance is studying the condition of airline companies affected by the COVID-19 pandemic and a possible assistance that could be extended to them under the proposed P1.3-trillion Accelerated Recovery and Investments Stimulus for the Economy bill.
“We are studying the transportation industry and the conditions of the companies [as] well as various alternative approaches, so as to be ready if and when the law is passed and the IRR [implementing rules and regulations] is prepared,” Finance Secretary Carlos Dominguez III told reporters Wednesday.
Philippine Airlines and other domestic airline companies sought government help as measures imposed globally to contain the spread of the disease affected their operations.
The ARISE stimulus package is seen to assist up to 15.7 million workers, create 3 million short-term jobs and 1.5 million infrastructure jobs over three years and help up to 5.57 million micro, small and medium enterprises.
The reform package will cost about 3.6 percent of GDP, or P688 billion, in new spending in its first year.
