MANILA -- A measure seeking to reorganize the National Economic and Development Authority (NEDA) into a department got the final nod of the House of Representatives. 

During Tuesday’s plenary session, 178 congressmen unanimously voted to approve on third and final reading House Bill 11199 or the proposed Economy, Planning and Development Act.

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It seeks to reorganize and institutionalize the NEDA into the Department of Economy, Planning and Development, which shall be the primary policy, planning, coordinating and monitoring arm of the government’s executive branch on the national economy. 

Under the bill, the DEPDEV shall formulate the country's continuing, integrated, and coordinated policies, plans, and programs for national development, for approval by the Economy and Development Council (ED Council). 

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The department shall ensure the vertical and horizontal alignment and coherence of national and sub-national policies, plans, and programs towards optimal use of financial and economic resources, and oversee the country's public investment program. 

The measure’s counterpart bill in the Senate was approved on third and final reading last month.