Senator Win Gatchalian on Thursday emphasized the need for a comprehensive contingency plan as he was designated to head a newly created Senate panel tasked with shielding the Philippine economy from the fallout of escalating tensions in the Middle East.
The ad hoc committee, established through Senate Resolution No. 350, will focus on safeguarding overseas Filipino workers (OFWs) and seafarers, addressing rising oil prices, mitigating supply chain disruptions, and managing inflationary pressures.
“Nais nating mapagaan ang mabigat na dinadala ng ating mga kababayan,” Gatchalian said in a statement.
“Tinatanggap natin ang hamon ng komiteng ito sa gitna ng mahalagang panahong ito, at nakatuon tayo sa pagtiyak na ang lahat ng tulong at mga hakbang sa mitigasyon ay hindi lamang magiging sapat kundi tuloy-tuloy.”
The panel, named the Proactive Response and Oversight for Timely and Effective Crisis Strategy, will coordinate a whole-of-government approach to ensure agency alignment and the timely rollout of intervention measures.
Gatchalian said the committee will consolidate inputs from various sectors and craft policy recommendations to cushion Filipinos from global economic shocks.
A comprehensive report will be submitted to the Senate, with copies furnished to the Office of the President for possible executive action.