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NEC revival proposed

Party-list winner 1Pacman nominee Dr. Michael Romero said yesterday that he will file a bill reviving National Economic Council that was abolished in the 1960s by then President Ferdinand E. Marcos.

Romero said the NEC’s main function is to plot the six-year economic roadmap for the Philippines. “It will create an economic blueprint for the country,” he said.

The council will identify the industries that are vital to the Philippine economic growth and prioritize the vital sectors of the economy, including infrastructure, agriculture, food security, and job generation.

In addition, the NEC will monitor monthly the country’s economic goals and objectives for the next six years.

“Monitoring is very important to see if we are achieving the goals in terms of growth and implementation of projects and programs,” Romero, one of the country’s wealthiest lawmakers, said.

The NEC will be composed of Secretaries of the Departments of Finance and Trade and Industry, the National Economic Development Authority Director Gemeral, two senators, two congressmen, representatives from the Philippine Chamber of Commerce and Industry and Makati Business Club, one local government unit, and one from the labor group. It will have its own executive director.