Marcos Orders Release of P20-B Fund to Secure Fuel Supply
MANILA — President Ferdinand R. Marcos Jr. has ordered the release of PHP20 billion in emergency funds to strengthen the country’s fuel supply and cushion the impact of the ongoing global oil crisis triggered by tensions in the Middle East.
The Department of Budget and Management (DBM) announced that the funds will be released to the Department of Energy (DOE) through a Special Allotment Release Order and a Notice of Cash Allocation. The amount will be sourced from the Malampaya Gas Fund under the Special Account in the General Fund.
The allocation will support the government’s Emergency Energy Security Program, which aims to ensure sufficient fuel supply, prevent shortages, and mitigate the effects of volatile global oil prices.
Funds will be used for the strategic procurement of key fuel products, including diesel, gasoline, and liquefied petroleum gas (LPG), to boost national reserves, stabilize pump prices, and maintain uninterrupted operations across critical sectors such as transportation, agriculture, logistics, and emergency services.
Implementation of the program will be led by the Philippine National Oil Company–Exploration Corporation (PNOC-EC), which has already begun procurement efforts to augment domestic supply.
The move follows escalating geopolitical tensions that have disrupted global oil production and distribution, raising concerns over energy security and the continuity of essential services.
It also comes after the President signed Executive Order No. 110, declaring a state of national energy emergency for one year to enable swift and coordinated government action.
DBM officials said the release of funds reflects the administration’s proactive approach to safeguarding the economy, ensuring fuel availability, and protecting consumers from sharp price increases.
Meanwhile, several senators welcomed the declaration but called for broader measures to address rising costs. Senator Loren Legarda proposed removing value-added tax (VAT) on basic goods, fuel, and certain electricity charges, and is considering the passage of a Bayanihan-style law granting additional emergency powers.
Senator Bam Aquino raised concerns about the scope of the declaration, particularly the absence of explicit provisions for price controls, and urged the government to consider imposing price caps and utilizing available funds for targeted assistance.
Senator Sherwin Gatchalian, for his part, expressed support for the President’s decision, describing it as a necessary step to mitigate the crisis. He also emphasized the need for a unified and transparent national contingency plan to guide government action under various scenarios.
With these measures, the government aims to maintain fuel stability, protect consumers, and ensure the continued operation of key sectors amid global uncertainty.
NPO News Team | Philippine News Agency - PR
