THE amount of P1 billion has been set aside to compensate residents of Marawi City who lost private properties during the 2017 siege, Surigao del Sur Rep. Johnny Pimentel said on Sunday.

"The allocation for the Marawi Siege Victims Compensation Fund has been included in the 2023 national budget," Pimentel said. "The item is lodged in the P31-billion Calamity Fund for next year." The reparation fund is pursuant to the Marawi Siege Victims Compensation Law of 2022, or Republic Act 11696.

The lawmaker said the money will be used to provide tax-free compensation to lawful owners of residential, commercial and other properties, including cultural structures, destroyed or damaged, either totally or partially, on the occasion of the Marawi siege and owners of private properties demolished in accordance with the Marawi Recovery, Rehabilitation and Reconstruction Program.

"We expect the compensation payout to rev up reconstruction activities in Marawi by private property owners," Pimentel said.

"The private rebuilding activities in turn will have a multiplier effect on the local economy in terms of creating new jobs and income that tend to benefit low-income households," he added.

Get the latest news
delivered to your inbox
Sign up for The Manila Times’ daily newsletters
By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy.

Under the law, the compensation fund also covers owners of mosques, madaris, schools, colleges, hospitals and other health facilities destroyed or damaged.

It also covers "other properties" such as home appliances, jewelry, machineries, rice mills and other equipment of value.

Marawi City was left in ruins after five months of battles between government troops and terrorists who occupied parts of the city in 2017.

The conflict dislocated over 200,000 of the city's civilian population.