MANILA - Almost two years after Typhoon “Frank” devastated Panay Island -- leaving billions of pesos in damages and hundreds of lives lost – Presidential Assistant for Western Visayas Raul Banias remains hopeful that the promised rehabilitation fund would be released.

Banias said he is constantly following up the requested fund with the Department of Budget and Management (DBM). An initial P2 billion has been requested from the Reconstruction Commission.

Although there is no time frame as to the release, Banias is hoping that it will be soon.

A fund for the rehabilitation of Panay was earlier pegged at P8 billion as contained in the approved Paglaum Fund. However, the source, which is the Simplified Net Income Taxation Scheme (SNITS), did not get the nod of the Senate.

The passage of the P12-billion supplemental calamity fund last year assured the island of a P4-billion allocation.

A bigger chunk of the budget was allotted for the repair and rehabilitation of roads and bridges that were damaged by the typhoon. (PNA)