The Manila Times
MANILA, Philippines — House Majority Leader and Ilocos Norte 1st District Rep. Ferdinand Alexander Marcos on Sunday urged his fellow lawmakers of the House of Representatives to fast-track the approval of the proposed Kalinga Act, which he said would protect the poor and the middle class during an oil crisis. "This is about protecting every Filipino—from the poorest families, to the middle class, to small business owners trying to stay afloat," Marcos said in a statement. He noted that the committee report on the bill was expected to be approved when the House of Representatives resumes session on Monday, May 4. "We are pushing to move this forward as quickly as possible so we can put real protection in place," he said. House Bill 8834, filed by Marcos and Speaker Faustino Dy III, listed triggers that shall guide an activation or expansion of the proposed Kalinga Program. The triggers are when the global oil price, including the average Dubai crude oil price based on the Mean of Platts Singapore, exceeds market thresholds; when there has been sustained increases in local fuel prices of at least 30 percent within 30 days; extraordinary inflation, as determined by the Bangko Sentral ng Pilipinas; when national fuel inventory levels fall below 30 days of supply, as determined by the Department of Energy and “other extraordinary external shocks resulting in a significant increase in domestic fuel prices or supply." The program shall include a fuel price stabilization component; energy supply, security, and inventory management component; targeted assistance component; essential goods and logistics stabilization component; micro, small and medium enterprises (MSME) energy relief and business continuity component; energy conservation and demand reduction component; and flexible fiscal and regulatory measures component. The targeted aid includes direct cash aid for minimum wage earners and low-income households; fuel subsidies "for public transport drivers, farmers, fisherfolk, and logistics providers;" transport aid for low-income workers; public transport fare subsidies; and other targeted aid as may be needed. To prevent business closures and job losses, the government shall provide support to MSMEs through targeted energy and fuel subsidies where needed; low-interest loans and credit guarantee programs; tax payment deferment and regulatory fee relief; logistics and distribution support for MSMEs; and a moratorium of up to six months "on the payment of interest and/or suspension of loan collections for qualified MSMEs under government financial institutions and government directed lending programs, without the imposition of penalties, surcharges, or additional interest. The proposed authorizes the suspension or reduction of fuel excise taxes and import duties and reduction of regulatory fees and charges.
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