THE House of Representatives has started its hearing on government mitigating measures to cushion the effects of the war in the Middle East on the Philippine economy.
Composed of 13 panels, the Legislative Energy Action and Development Joint Committee will be led by the House Committee on Ways and Means.
Speaker Faustino Dy III said that the chamber is working in close coordination with the executive branch to confront the global fuel shock and mitigate its impact on Filipino households.
”We will not work against each other; we will work together,” Dy said in his opening statement. “This is exactly the kind of whole-of-government response our people expect — a Congress that has chosen to work with the executive to find lasting and forward-looking solutions. And above all, this is what we should have done for our countrymen.”
He stressed that the impact of the crisis is now felt daily by Filipino families, and while it cannot be prevented, the government can take decisive steps to address its effects.
”We are here not just to ask questions; we are here to deliver answers — fast, concrete and felt by the people,” Dy said.
Ways and Means Committee Chairman and Marikina Rep. Romero Quimbo said that the committee is not just a “response mechanism,” but a reform-oriented platform that would help the Philippines adapt and survive when the next energy shock hits.
”The crisis today is a wake-up call, and an opportune time to adopt policies that will strengthen energy resilience and ensure our food security, so we will face future volatility in the global oil market with protection rather than vulnerability,” Quimbo said.
He said that while it is possible they aim to create a “Bayanihan 3” bill, they will not just file a bill that would only provide dole outs.
”Yes, government aid is important as [an] immediate action for our poorest of the poor and affected sectors,” Quimbo said. “But we also need more permanent solutions, more so to provide a stronger safety net to another affected sector of our society — the middle class.”
During the hearing, Energy Secretary Sharon Garin said that the current fuel supply remains sufficient, with the current supply averaging 50.42 days.
She added that deliveries from key suppliers continue and that there were minimal disruptions. Most suppliers are delivering, and the government has decided to purchase 2 million barrels.
Garin said that while price controls are not allowed under the Oil Deregulation Law, enforcement has been intensified to curb profiteering and hoarding.
”To mandate a certain price or cap a price, that’s beyond the powers of DOE (Department of Energy), but we make sure there’s no profiteering,” Garin said.
She, however, said that the price of gasoline will remain at around P200 per liter even if the war in the Middle East ends, saying that the damaged infrastructure will take “months” to rebuild.
Some lawmakers, however, are not convinced of the government’s response, with Batangas Rep. Leandro Leviste pushing for a decrease in the current value-added tax (VAT) rate from 12 percent to 10 percent and the suspension of the fuel excise tax.
”It is much better to decrease taxes because our countrymen have not received any aid even if we pay higher VAT taxes,” Leviste told reporters.