MANILA, Philippines -- Sen. Bam Aquino has expressed support for the declaration of a state of national emergency to control soaring prices of basic commodities driven by the sharp increase in oil costs brought by the Middle East war.
The senator on Sunday said country is already at crisis level as record-high oil price hikes led to surge in the cost of goods, which "could place a heavy burden on the public and various industries."
Under a state of national emergency, the President may exercise broader authority to direct government resources to provide financial and other forms of assistance to various sectors, boost funding for the repatriation of overseas Filipino workers in affected areas, and implement price control measures.
"That's why we support the call for the declaration of national emergency to address the continuous oil price increases and lighten the burden of the people affected by the high costs of basic goods," Aquino said in Filipino.
"The government, hopefully, shoukd not wait for the situation to worsen since there is no certainty as to when the war in the Middle East would end," he added.
However, Aquino stressed the need to strictly monitor the implementation of these measures to ensure that assistance reaches the intended beneficiaries and that no abuses or irregularities occur.
He also reiterated his call for financial assistance to transport workers, micro, small, and micro, small and medium enterprises, and vulnerable sectors of the middle class to keep the economy afloat.
