Chiz hails enactment of critical laws on gov't transparency, financial protection
July 20, 2024
CHIZ HAILS ENACTMENT OF CRITICAL LAWS ON GOV'T TRANSPARENCY, FINANCIAL PROTECTION
Senate President Francis "Chiz" G. Escudero on Saturday welcomed the enactment of two critical and timely measures aimed at enhancing government transparency and protecting Filipinos from financial fraud.
Escudero was among those who personally witnessed President Ferdinand R. Marcos Jr. sign the New Government Procurement Act (NGPA) and the Anti-Financial Accounts Scamming Act (AFASA) in Malacañang.
"The signing of these two critical pieces of legislation marks a significant step forward in our commitment to transparency, accountability, and the protection of our citizens from financial scams," Escudero said.
"These laws will provide a stronger framework for ethical governance and safeguard the public against fraudulent activities," he pointed out.
The NGPA, which amends Republic Act No. 9184 or the Government Procurement Reform Act, aims to enhance government procurement processes, ensuring efficient and effective use of public funds.
"This revised act addresses key issues in our procurement system, promoting greater efficiency and reducing opportunities for corruption," Escudero said.
"It is essential that we have a transparent and accountable procurement process that delivers the best value for taxpayers' money," he stressed.
The AFASA, on the other hand, introduces measures to combat financial scams and enhance protections for individuals and businesses, ensuring greater financial security.
"With the rise of digital transactions, financial scams have become more sophisticated," Escudero said.
"AFASA will give law enforcement the tools needed to detect, prevent, and prosecute these crimes more effectively, protecting the financial well-being of our citizens," he added.
Escudero noted the impact these laws will have on the daily lives of Filipinos.
"By strengthening our procurement processes and protecting our financial systems, we are not only promoting good governance but also fostering a safer and more secure environment for our people," he said.
These laws, according to the Senate chief, "will help build a more resilient and trustworthy system that our citizens can rely on."
Escudero commended the collaborative efforts of both houses of Congress and the executive branch in passing these important measures.
"This achievement is a testament to the power of collaboration and the shared commitment of our legislators and the executive branch to address the needs of our nation," he said.
"I thank my colleagues in the Senate and the House of Representatives, as well as President Marcos, for their unwavering support and dedication to these causes," he concluded.
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