THE Department of Finance (DOF) has ordered all state-run firms to deploy resources, provide critical services and roll out calamity assistance packages to the victims of the recent earthquake in Cebu.
Department Circular 003-2025 issued by the DOF on October 1 directed government-owned and -controlled corporations (GOCCs) and government financial institutions (GFIs) to accelerate service delivery and ground support after natural calamities.
The order covers the 53 GOCCs and nine GFIs under DOF oversight, particularly those in utilities, infrastructure, logistics, communications, housing, financial services and other essential public functions.
They are instructed to use available resources, personnel, and equipment; prioritize restoring power, water, communications, and transport; and coordinate with national agencies, local governments and stakeholders for an integrated response.
Calamity-related assistance packages, such as cash aid, concessional loans, deferred payment schemes or service subsidies, were also ordered to be immediately rolled out.
In addition, they are also told to fast-track the processing of insurance claims for damaged properties, assist borrowers in affected areas and provide short-term loans for the repair of homes and the recovery of livelihoods.
At the same time, they must ensure the continuity of financial services by keeping branches operational, ATMs functional and other service channels available to the public.
‘Our goal is to make sure that when calamity strikes, the GFIs and GOCCs respond without delay. They must also be the first responders to restore essential public services and work hand in hand with the government to help our people recover faster,’ Finance Secretary Ralph G. Recto was quoted in a separate statement as saying.
According to the DOF, the Social Security System is ready to provide P10 billion to P15 billion under its Calamity Loan Program for this year to disaster-stricken members.
To deliver financial relief to affected Filipinos in calamity-declared areas, Recto, who is also the ex officio chair of the Social Security Commission, approved a lower annual interest rate of 7 percent and a faster activation period of seven days under the program.
The Government Service Insurance System is also extending financial aid to disaster-stricken Filipinos through its calamity and emergency loans.
Those with mortgaged houses can file for insurance claims through the Pag-Ibig Fund, where members in affected areas may also be eligible for calamity loans. For minor repairs, members can access short-term improvement loans.
Meanwhile, the Land Bank of the Philippines vows to facilitate quick access to salary loans for employees of government agencies and private companies using the state-run lender’s payroll service.
The Bureau of the Treasury is prepared to submit a claim for the restoration and repair of public schools damaged by the earthquake under the National Indemnity Insurance program, the DOF added.
‘We assure the Filipino people that we have more than enough funds to support the victims, lalo na ang ating mga magsasaka, manggagawa, estudyante, at bawat pamilyang Pilipino na apektado ng trahedya,’ Recto said.