Senator Win Gatchalian on Monday urged the Senate’s crisis response panel to act swiftly, setting a one- to two-week deadline to draft a contingency plan as the Middle East conflict continues to threaten the Philippine economy.
Gatchalian, who chairs the newly formed ad hoc committee, said the tight timeline reflects the urgency of the situation, with rising oil prices and global instability already posing risks.
“Ang timeline namin dito hopefully mga one or two weeks kasi may sense of urgency,” he explained.
The Proactive Response and Oversight for Timely and Effective Crisis Strategy committee was created to prepare for possible economic shocks, including fuel price spikes and supply disruptions tied to the escalating conflict abroad.
The senator said the panel is already working on different scenarios, including a worst-case projection where the crisis drags on for six months and global oil prices soar to $200 per barrel.
“Wala kasi tayong control sa nangyayari sa labas ng bansa, pero ang mahalaga ay handa tayo,” Gatchalian noted, stressing that the goal is to ensure the government has ready responses at any stage of the crisis.
He added that the committee aims to produce a comprehensive and targeted contingency framework that can be quickly implemented to cushion the impact on consumers and businesses.