The Senate has formed an ad-hoc committee that will be tasked to establish a comprehensive contingency plan to address the current oil crisis and prevent stagflation of the economy.

Senate Majority Leader Juan Miguel “Migz” Zubiri expresses his full support for Senate Resolution No. 350, which the Upper Chamber approved on Wednesday's plenary session, March 18, 2026.

Zubiri noted that despite the passage of the Biofuels Law, Electric Vehicle Industry Development Act, and Renewable Energy Act, the Philippines continues to lag behind neighboring countries in the production of alternative energy and fuel.

“We are caught by surprise once again even if we have so many pieces of legislation. In this time of need and emergency situation in the Middle East, we need to move proactively on how we can plan our actions in the near future,” Zubiri said after the Senate adopted Resolution No. 350, which called for the creation of the body.

Sen. Sherwin Gatchalian, who was designated to lead the ad-hoc panel, underscored the urgent need for a clear, coordinated, and comprehensive contingency plan to protect the country from a possible economic fallout especially if the Middle East conflict escalates.

In exercising its constitutional oversight, Gatchalian said the Senate ad-hoc panel will proactively tackle the country’s key challenges: “the safety and security of our overseas workers, including seafarers; skyrocketing oil prices and supply disruptions; the threat of severe inflation; destabilized transportation systems; and the overall vulnerability of the local economy.”

“We want to lighten the burdens our countrymen are carrying. We embrace the challenge posed by this committee at this crucial time, and we are committed to ensuring that all assistance and mitigation measures will be not only sufficient but also sustained,” said Gatchalian, Senate Finance Committee chairman.

The ad-hoc panel will carry the name Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT). Gatchalian said the committee will implement a whole-of-government approach, ensuring seamless coordination among stakeholders, aligned priorities, and effective execution. 

The panel will submit a report to the Senate as a body containing its observations and recommendations and furnish a copy to the Chief Executive for appropriate action. 

Senate Minority Leader Alan Peter Cayetano also supported the creation of the PROTECT panel. 

“The Senate, in the exercise of its constitutional oversight function, cannot remain passive or rely solely on executive initiative when emerging crises pose significant risks to the lives, livelihoods, and welfare of the Filipino people,” they said in the resolution.

“We are not strangers to crisis… Nasusubukan ang ating pundasyon ‘pag merong kalamidad o sakuna (Our foundation is tested whenever there is a calamity or disaster),” Cayetano said.