ECONOMIC MANAGERS BACK KALINGA BILL AMID FUEL PRICE SURGE AND GLOBAL DISRUPTIONS

Economic managers expressed strong support for the proposed KALINGA bill, calling it a timely response to rising fuel prices and global market disruptions during a House committee hearing. The measure seeks to establish a comprehensive emergency framework to ensure energy and essential goods supply, while providing targeted aid to vulnerable sectors once crisis indicators are triggered. Key agencies, including the Department of Budget and Management and Department of Finance, said the bill would help sustain economic activity, cushion inflation, and protect livelihoods amid external shocks. The proposal also grants the President limited emergency powers to enable faster response, resource mobilization, and delivery of essential services. Meanwhile, agencies emphasized the need for fiscal discipline and coordination as the government works to stabilize the economy and mitigate the impact of volatile fuel markets.