Senator Christopher “Bong” Go has filed a measure seeking to temporarily suspend mandatory government contributions as Filipinos continue to grapple with rising fuel prices.
Under his proposed Fuel Crisis Immediate Relief and Response Act, payments to key agencies—including the Philippine Health Insurance Corporation (PhilHealth), Social Security System (SSS), Government Service Insurance System (GSIS), and the Home Development Mutual Fund (Pag-IBIG)—would be deferred for two months.
Go said the proposal is part of broader measures aimed at easing the financial strain on households and vulnerable sectors affected by global oil market volatility.
In his explanatory note, the senator cited escalating tensions in West Asia as a major factor affecting global oil supply and price stability.
“Conflicts in the region, especially involving Iran, Israel, and key oil transit routes such as the Strait of Hormuz, have led to interruptions in oil supply, causing unstable markets and driving global fuel prices upward,” Go wrote.
He added that “recent data indicates that global crude prices have surged past $115 per barrel,” warning that the Philippines, as a net oil importer, remains highly exposed to external shocks.
Go said these developments have already led to higher transportation costs, increased prices of basic goods, and reduced purchasing power among Filipino households, particularly affecting low- and middle-income families.
Key Relief Measures in the Bill
- Contribution Suspension: Temporary deferral of payments to PhilHealth, SSS, GSIS, and Pag-IBIG for two months, with arrears payable in three staggered installments.
- Loan Grace Periods: 30-day grace period on existing loans from government lending institutions, without interest or penalties.
- Utility Bills Relief: Minimum 30-day grace period for electricity, water, and telecom bills, payable in installments.
- Market Safeguards: Stricter enforcement by the Department of Trade and Industry against hoarding, profiteering, and price manipulation.
- Targeted Assistance: Fuel subsidies and discounts for public utility drivers and agricultural workers, plus a Libreng Sakay program for free rides on key routes.
- Support for Businesses: Expanded credit access and loan interest subsidies for MSMEs, cooperatives, and affected enterprises.
- Aid for OFWs: Reintegration assistance for repatriated overseas Filipino workers, including livelihood and employment support.
- Price Controls: Temporary caps on basic goods, medicines, and residential rents during severe fuel price spikes or national energy emergencies.
Go emphasized that the proposal aims to provide immediate relief while strengthening economic resilience amid global uncertainty.
“This bill seeks to cushion the impact of global fuel price disruptions on ordinary Filipinos,” he said.