President Ferdinand Marcos Jr. is preparing to certify as urgent a proposed measure granting him emergency powers to temporarily reduce excise taxes on fuel, as global oil prices continue to climb amid escalating tensions in the Middle East.
Communications Undersecretary and Palace Press Officer Claire Castro confirmed that the President views the proposal as timely given the risk of surging fuel costs.
“Yes, of course. ‘Yan po ‘yung nakikita po ng Pangulo. At lalo po at napapanahon ito sa ngayon,” Castro said when asked if Marcos would certify the bill as urgent.
The legislation seeks to lower excise taxes on petroleum products to cushion the impact of rising pump prices on consumers, businesses, and the broader economy.
Castro said the Department of Finance, the Office of the Executive Secretary, and the Office of the President are coordinating efforts to fast-track the measure in Congress.
Once lawmakers complete the committee report, Marcos is expected to formally issue a certification of urgency to accelerate its passage.
“Kapag po natapos na po at nagkaroon na po ng committee report, ay magkakaroon po ng certification of urgency na siyang ang Pangulo po mismo ang magbibigay,” Castro added.
The proposed tax relief forms part of the government’s contingency measures as the Middle East crisis threatens to disrupt global oil supply and drive fuel prices higher.