PRESIDENT Ferdinand Marcos Jr. signed into law on Monday, February 26, 2024, a measure granting additional cash incentives to octogenarians and nonagenarians, or elderly people aged 80 to 95 years old.
Marcos signed Republic Act (RA) 11982, or the Amendments to the Centenarians Act of 2016, which expands the coverage of RA 10868, or the Centenarians Act of 2016, to include all Filipinos, whether residing in the Philippines or abroad to be a recipient of a cash gift worth P10,000 upon reaching the age of 80 and every five years thereafter, or until the age of 95.
During the ceremonial signing of the law, Marcos said the law is a homage to the Filipino trait of compassion, and in the Philippine culture, this shows more kindness and compassion to the elderly.
“We do, after all, stand on the shoulders of these giants,” he said.
Marcos also signed into law Republic Act 11981 or the Tatak Pinoy (Proudly Filipino) Act, which strengthens the partnership between the government and private sector toward promoting Philippine goods and services by making these increasingly diversified and globally competitive.
The measure upholds inclusive economic growth and development in the country by encouraging, supporting, and promoting the production and offering of local products and services of increasing diversity, sophistication, and quality by domestic enterprises that are globally competitive.
He said “Tatak Pinoy” is more than a branding exercise as it is about giving incentives to local products that deserve to carry the “Made in the Philippines” trademark, showing the creativity and skills of the Filipino worker.
“It is about creating products and services of the highest quality, because Tatak Pinoy is also about excellence, and as a seal of great workmanship, it must only be applied to those that meet this high standard. As such, we shall give preference and priority to our products,” he added. (TPM/SunStar Philippines)