Senator Risa Hontiveros has formally filed the bill seeking a P52.8-billion supplemental budget to fund the expanded subsidies for vulnerable sectors affected by the ongoing oil crisis.

In filing of Senate Bill No. 1986, Hontiveros said it is imperative to address the limited amount of available funds for more effective and meaningful assistance programs, especially if the Middle East conflict and its economic impacts continue throughout the upcoming weeks and months.

The P52.8-billion budget package under SB No. 1986 includes P12-billion for transport subsidy to public transport drivers, including delivery riders and Transport Network Vehicle Service (TNVS) drivers.

The subsidy will also in part fund the service contracting program of the Department of Transportation (DOTr).

Likewise, the measure includes a P2.8-billion agricultural subsidy under the Department of Agriculture (DA) for farmers and fisherfolk, who are reeling from fuel and fertilizer price hikes.

She said the subsidy aims to prevent food supply shortages by ensuring that farmers are not forced to reduce output due to high costs. 

The measure would complement Senate Bill No. 1982 that gives the President power to suspend or reduce excise taxes on petroleum products. The Senate approved the measure on third and final reading on Tuesday, March 17.

"The suspension of excise taxes is a good start, but it cannot be the government's sole answer to the worsening, multifaceted, and seemingly protracted oil crisis,” Hontiveros said.

“We need a supplemental budget for effective and non-retail subsidy programs - so that drivers and riders can travel, farmers and fisherfolk can work, and the economy does not grind to a halt,” she stressed.

Moreover, the bill also provides a P38-billion fund for the repatriation expenses which is at P18-billion, and reintegration and livelihood programs at P20 billion, for the overseas Filipino workers (OFW) who may possibly seek repatriation should the tension in the Middle East escalate.

“Right now, the funds for the transport subsidy alone are P2.5-billion from continuing funds in the 2025 budget. The agricultural subsidy is only P150-million. And the Department of Migrant Workers (DMW) has already asked for help because the emergency funds are only P1.76-billion, which is not enough if thousands of OFWs are forced to return home,” she said.

The senator then urged lawmakers to expedite the passage of the measure, noting that a counterpart bill has already been filed by Akbayan Representatives Chel Diokno, Percy Cendaña and Dadah Ismula, alongside Dinagat Islands Representative Kaka Bag-ao, at the House of Representatives.

“This conflict in the Middle East and the oil crisis won't end tomorrow or next week. We need to be prepared, no matter how long the problem lasts,” she said.

“We should start by ensuring that we have the funds to help our kababayans in the many challenging days ahead,” Hontiveros reiterated.