Photo Credit: Office of Akbayan Partylist Rep. Chel Diokno
AKBAYAN Partylist Rep. Chel Diokno has submitted a measure seeking P52.8 billion in a supplemental budget to help shield transport workers, farmers, and Overseas Filipino Workers (OFWs) from the economic effects of the escalating Middle East conflict.
House Bill No. 8495—filed by Diokno and fellow Akbayan Partylist Representatives Perci Cendaña and Dadah Kiram Ismula, along with Dinagat Islands Rep. Kaka Bag-ao—states that the supplemental appropriations will help cushion the impact of soaring oil prices and possible OFW displacement triggered by the crisis involving the United States, Israel, and Iran.
With the Philippines heavily dependent on imported fuel—much of it linked to Middle Eastern supply chains—the lawmakers said the disruption is expected to drive up transportation costs, food prices, and other basic expenses.
“The risk of supply disruptions has already contributed to a sharp increase in global and domestic fuel prices,” they said.
“These developments threaten to significantly raise the cost of transportation, food production, and basic goods, placing substantial economic pressure on Filipino households and sectors most sensitive to energy price fluctuations,” they added.
Emphasizing the necessity of additional funding, the lawmakers said available government resources remain insufficient to respond to a prolonged crisis.
Funds for transport fuel subsidies currently amount to only about P2.5 billion, while the Department of Agriculture has around P150 million available to assist farmers and fisherfolk. Meanwhile, the Department of Migrant Workers only has P1.76 billion in emergency funds currently available for the repatriation and reintegration of affected OFWs.
According to the proposed measure, the supplemental budget will provide targeted fiscal protection to sectors most vulnerable to the economic shock caused by the Middle East crisis.
Of the proposed P52.8 billion, the measure allocates P12 billion for fuel subsidies to assist public utility vehicle drivers and transport workers; P2.8 billion in agricultural subsidies to help farmers and fisherfolk cope with rising fertilizer, production and operating costs; and P38 billion for emergency repatriation, assistance, and reintegration programs for OFWs who may be displaced by the conflict.
“In times of global instability, the government must act decisively to protect the welfare of its citizens and safeguard the stability of the national economy. This proposed supplemental appropriation provides a targeted, responsible, and necessary fiscal response to mitigate the economic shock brought about by the ongoing Middle East crisis,” the lawmakers said.
