Senate Deputy Majority Leader Risa Hontiveros on Monday urged Congress to swiftly consider a proposed ₱52.8-billion supplemental budget designed to shield vulnerable sectors from the economic fallout of a potential oil crisis triggered by global supply disruptions.
During a press briefing, Hontiveros outlined the allocation plan for the emergency funding:
“₱12 billion for transport, ₱2.8 billion for agriculture, and at least ₱38 billion in emergency OFW funds for repatriation and reintegration.”
She warned that existing government support may be insufficient if fuel and fertilizer prices continue to rise.
Estimates show the transport sector could face ₱12 billion in additional fuel costs over three months if pump prices climb by more than ₱10 per liter, while current subsidies stand at only ₱2.5 billion.
In agriculture, fertilizer costs are projected to increase by ₱2.8 billion, but available support is limited to about ₱150 million.
Hontiveros also raised concerns about the capacity to assist overseas Filipino workers should tensions escalate in the Middle East.
The Department of Migrant Workers currently has a ₱1.76-billion repatriation fund, which she said may only cover limited evacuations in the event of a large-scale crisis.
To fund the proposal, Hontiveros suggested reallocating resources from discontinued flood-control projects, repurposed farm machinery programs, phased infrastructure spending, and a portion of the ₱17.5-billion allocation for the Philippines’ hosting of the ASEAN Summits in 2026.
“At siyempre, pwede tayong kumuha sa ₱17.5 billion na pondo para sa pag-host at pag-chair ng Pilipinas sa ASEAN 2026 Summits at Meetings — kaya ‘yan kung magra-rationalize ang ating organizers,” she said.
She added that agencies could already begin releasing limited assistance by tapping the ₱23.4-billion National Disaster Risk Reduction and Management Program under the 2026 national budget.
“Hindi totoo na wala tayong mapagkukunan. Meron! Kailangan lang pag-usapan, pag-isipan at aksyunan na agad,” Hontiveros stressed.