Senate bill seeks to expand social protection for workers, businesses amid energy crisis
At A Glance
- Senator Mark Villar has urged lawmakers to expedite passage of a bill that seeks to expand social protection for workers and small businesses that are reeling from the rising cost of fuel.
Senator Mark Villar has urged lawmakers to expedite passage of a bill that seeks to expand social protection for workers and small businesses that are reeling from the rising cost of fuel.
In filing Senate Bill No. 2032 or the proposed Relief and Recovery Interventions for Low-Income Earners, Minimum Wage Earners, Self-Earning Individuals, and Micro, Small, and Medium Enterprises (RELIEF) Act, Villanueva said it is imperative to help businesses and workers cope with the rising cost of oil prices and its ripple effects on daily living.
Citing a study by the Philippine Institute for Development Studies (PIDS), Villar warns that the ongoing energy crisis could push up to 3.1 million more Filipinos into poverty, as higher fuel prices continue to drive up the cost of goods and services.
Businessmen have also raised concerns that micro, small, and medium enterprises (MSMEs) may struggle to stay afloat if high fuel costs persist.
Villar said the bill aims to deliver targeted support to the most affected sectors, including low-income households, minimum wage earners, self-earning individuals, and MSMEs.
“We are feeling the continuous increase in oil prices, but its impact is even more severe on minimum wage earners, our self-earning compatriots, and small businesses. We need to ensure that they have adequate protection and support,” Villar said.
Key provisions of the bill include grace periods for rent and loan payments, penalty-free loan restructuring, flexible tax and compliance deadlines, and improved access to credit assistance.
Villar urged Congress to fast track approval of the measure, noting that immediate and concrete interventions are needed to help vulnerable sectors cope with the crisis.
“In times of crisis, quick and concrete action is essential. We need to lay down a strong social safety net that will help our countrymen—not just now, but in the challenges that lie ahead,” he said.
“Our goal is to help our countrymen and small businesses recover and thrive amidst rising prices and the energy crisis,” he further stressed.