Senator Christopher Lawrence “Bong” Go on Friday, March 11 said he supports proposals for a temporary moratorium on the collection of excise taxes on oil products to help Filipinos cope with the economic shocks as the Russia-Ukraine conflict drives up oil prices across the globe.

Go emphasized that protecting vulnerable consumers should be the number one priority. He, however, acknowledged concerns over the possible impact on the government’s revenue collections.

The lawmaker from Davao added that he would welcome a special session to tackle such legislative measures now that Congress is in session break.

He mentioned possible solutions, such as introducing a moratorium or providing an extra budget for targeted support to vulnerable workers particularly in the transportation sector.

Go also called on the Duterte administration to fast-track the release of the subsidy allotted to jeepney drivers, many of whom recently returned to pre-Covid operations in Alert Level 1 areas.

On Thursday, the Department of Budget and Management (DBM) released a total of P2.5 billion to the transportation department as fuel subsidy for around 377,000 qualified public utility vehicle drivers.

Another half billion pesos was also released to the agriculture department to subsidize transport fuel cost of farmers and fisherfolks to mitigate possible increase in food prices.

“Apektado rito ‘yung mahihirap... Bawat piso, bawat sentimo napakahalaga sa mga kababayan natin. Bawat pagtaas ng mga gasolina at krudo, apektado ‘yung mga tsuper, mga jeepney at itong mga public utility vehicle drivers (The most affected here are the poor...Every peso, every cent is very important to our countrymen. Everytime the price of gasoline and crude goes up, the drivers, jeepney and public utility vehicle drivers are affected)” Go said.

“Kung ano yung solusyon na pwedeng gawin ng executive, kung i-suspinde muna (ang excise tax) o magbigay ng ayuda, susuportahan ko (Whatever solution that the executive may implement, such as the suspension of the excise tax or the provision of assistance, I will support it). I think mayroon yata silang inilaang ayuda para sa mga jeepney transport groups... I am willing kung kailangan magkaroon ng panibagong batas para magkaroon ng budget para matulungan ang mga tsuper at mga apektado (I think there is an assistance to given to the jeepney transport groups...I will support a move in congress to pass a new law that will provide budget to help the affected drivers),” he added.

Go disclosed that President Duterte had already issued specific instructions to concerned agencies to address the rising oil prices, including the National Economic Development Authority. (NEDA), Department of Energy (DOE), Department of Trade and Industry (DTI), Department of Finance (DOF) and Department of National Defense (DND).

He further revealed that the President had also directed Executive Secretary Salvador Medialdea to prepare the necessary issuances in this regard.

Meanwhile, Go stressed the need to further study the calls to declare a state of economic emergency amid the soaring prices of petroleum products.

He maintained that legislators would help work alongside concerned executive agencies to exhaust all options to combat the oil price hike and ensure it does not further compound the adverse economic impacts of the COVID-19 pandemic.

In the meantime, Go called on oil companies and traders to do their part to help the country emerge from the ongoing crises.

He urged them to avoid taking undue advantage by unnecessarily jacking up prices for profits.

On March 8, oil companies announced their biggest jump yet in pump prices of petroleum products at P5.85 per liter of diesel, P4.10 for kerosene, and P3.60 for gasoline.