MANILA – In response to escalating fuel prices, the House of Representatives will convene a high-level joint hearing involving 13 committees to fast-track policy solutions aimed at easing the burden on Filipinos.
The hearing, slated for Wednesday morning at the People’s Center Building, will be facilitated by Marikina Rep. Miro Quimbo, who chairs the Committee on Ways and Means. It will serve as the initial session of a consolidated panel formed to address the effects of global oil volatility.
The initiative comes as oil prices continue to be influenced by geopolitical tensions in the Middle East, particularly involving the United States, Israel, and Iran, prompting lawmakers to act with urgency.
Committee leaders from various sectors—including energy, agriculture, labor, transportation, and economic affairs—will participate in the discussions to ensure a comprehensive and coordinated legislative response.
Speaker Faustino “Bojie” Dy III has called on the committees to work in unison, compile relevant data, and collaborate with the Executive branch in crafting responsive and sustainable policy measures.
The hearing will center on the country’s energy supply outlook, the broader economic implications of the crisis, and potential interventions that can mitigate its effects on consumers and businesses.
A number of Cabinet members and top officials have been invited to provide insights and policy directions. These include Energy Secretary Sharon Garin, Finance Secretary Frederick Go, Foreign Affairs Secretary Ma. Theresa Lazaro, and Budget Secretary Rolando Toledo.
Regulatory bodies, fiscal agencies, and government financial institutions are also expected to take part, along with representatives from global development organizations such as the World Bank and the Asian Development Bank.
According to Quimbo, the goal is to gather comprehensive information that will guide lawmakers in crafting responsive legislation aligned with current government efforts.
He noted that aside from immediate relief measures, the panel will also study long-term strategies, including structural reforms and targeted assistance programs, to strengthen the country’s resilience against future oil price shocks.
ia/xf
