TWO House of Representatives lawmakers have filed separate bills seeking to ease Filipinos' economic burden from skyrocketing fuel prices, resulting from the ongoing war in the fuel-rich Middle East.
In separate statements, Navotas Rep. Toby Tiangco filed House Bill (HB) 8715, which seeks to impose a temporary freeze on increases in residential and micro, small, and medium enterprise (MSME) commercial rental rates and defer housing loan payments without penalties.
HB 8715 also seeks to allow emergency loans from the Social Security System and Government Service Insurance System and declare a moratorium on the accrual of interest on government loans.
In a statement, Tiangco said that in times of crisis, there should be immediate action and the government must do everything to help Filipinos ease their daily lives.
He further said that the Philippines imports over 90 percent of its oil needs primarily from the Middle East, which is currently mired in conflict amid the war in Iran.
Tiangco said that MSMEs, which account for 99.6 percent of businesses nationwide, are among those most affected by the fuel crisis.
"Operating on thin margins, even modest increases in logistics and input costs can significantly strain their finances, and in many cases, threaten their ability to remain operational," Tiangco said.
Also, the measure authorizes government agencies and their subsidiaries to partner with duly registered transport providers to deliver free public transportation during national or local emergencies, ensuring continued mobility for the riding public.
Tiangco's bill also mandates the Department of Trade and Industry and Department of Energy, in coordination with relevant agencies, to to keep prices of petroleum products, basic commodities and utilities, including telcos and internet service providers remain reasonable by preventing unjustified increases, with authority to impose or recommend price ceilings, curb hoarding and profiteering, and implement necessary interventions such as requiring price justification, subsidies, or buffer stocking to stabilize supply and protect consumers.
"It is our job to protect vulnerable sectors from the adverse effects of sudden fuel price hikes. To this end, we must provide immediate relief, while ensuring fiscal sustainability and equitable burden-sharing," Tiangco said.
The measures, however, would be in effect for six months from effectivity or until the president certifies, through a proclamation, that the national average fuel price has stabilized below P60 per liter for gasoline or diesel, whichever comes first.
Meanwhile, 1Tahanan Party-list Rep. Nathaniel Oducado has filed HB 8586, which would expand unemployment insurance and aid displaced workers to find new work.
Under his "Expanded Unemployment Insurance and Employment Reintegration Act," Oducado said that when Filipino workers lose their jobs through no fault of their own, the government will give them "meaningful and timely support."
The bill aims to strengthen income protection for displaced Filipino workers and reinforce the country’s resilience amid global economic disruptions, expanding unemployment insurance coverage from two months to four months.
The payout from the insurance coverage shall be 50 percent of the member’s average monthly salary.
“Two months of partial income is simply not enough in an economy where job matching and retraining can take time, especially as geopolitical tensions abroad threaten fuel prices, supply chains, and domestic business stability," Oducado said.