Philippine News Agency
Lacson backs special session to tackle 'economic emergency'
Senate President Vicente Sotto III and presidential candidate Senator Panfilo Lacson are open to attending a special session if President Duterte calls for one to address rising fuel prices.
Lacson stated his willingness to attend a special session, emphasizing the need for government flexibility in addressing the "scourge of fuel price hikes."
The economic development cluster proposes increasing the fuel subsidy for public transport drivers from PHP2.5 billion to PHP5 billion, and the budget for fuel discount vouchers for farmers and fisherfolk from PHP500 million to PHP1.1 billion.
Lacson also stressed the importance of preventing corruption and administrative lapses in the distribution of fuel subsidies, learning from past issues with the "Bayanihan" funds.
He believes that declaring a State of Economic Emergency would provide the necessary flexibility to deal with the issue.
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The House of Representatives is forming an "Fuel Crisis Ad Hoc Committee" to address the escalating domestic fuel prices.
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Davao City Mayor Sara Duterte-Carpio expressed willingness to urge President Duterte to call a special session of Congress to address the escalating fuel prices.
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Malacañang is studying the proposal to declare a state of economic emergency due to rising fuel prices and the Russia-Ukraine conflict.
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Energy Secretary Alfonso Cusi stated that declaring a state of economic emergency is not necessary at this point to address the rising petroleum prices.
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Presidential candidate Senator Panfilo "Ping" Lacson urged the government to immediately suspend excise taxes on fuel products, even temporarily, amid looming price hikes.
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