The Manila Times
HOUSE Majority Leader and Ilocos Norte 1st District Rep. Ferdinand Alexander Marcos on Sunday urged his fellow lawmakers at the House of Representatives to fast-track the approval of the proposed Kalinga Act. “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 upon the resumption of the House 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, lists triggers that shall guide the 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 have 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 (BSP); when national fuel inventory levels fall below 30 days of supply, as determined by the Department of Energy (DoE); “imminent supply disruptions or energy shortages, as determined by the” DoE; presidential declaration of a state of national energy emergency; or “other extraordinary external shocks resulting in a significant increase in domestic fuel prices or supply.” The program shall include the following components: fuel price stabilization; energy supply, security, and inventory management; targeted assistance; essential goods and logistics stabilization; micro, small, and medium enterprises (MSME) energy relief and business continuity; energy conservation and demand reduction; and flexible fiscal and regulatory measures.
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