Financial Executives Institute of the Philippines (FINEX) has expressed support for the government’s declaration of a national state of energy emergency, while urging transparency and safeguards to protect economic activity.

In a statement, FINEX said the move is necessary to address risks to fuel supply and rising global oil prices, which threaten economic stability and highlight the country’s vulnerability to external energy shocks.

The group backed the government’s efforts to ensure fuel and electricity availability and protect critical sectors under its response measures, including support for transport, agriculture, and small businesses.

However, FINEX called for full transparency in emergency fuel procurement, particularly the recently announced P20-billion diesel purchase program, stressing the need for clear disclosure of pricing, safeguards, and audit mechanisms.

It also warned that conservation measures and price interventions should not disproportionately burden businesses, workers, and consumers or dampen economic activity.

“Policy responses must protect energy security without weakening the productive sectors that sustain employment, household income, and economic momentum,” the group said.

FINEX further cautioned that administrative price caps and operational limits, if not carefully designed, could disrupt business continuity and reduce consumer demand.

The organization welcomed the temporary suspension of fuel excise taxes, saying it provides immediate relief from inflationary pressures, but emphasized the need for clear timelines and fiscal planning to maintain investor confidence.

Looking ahead, FINEX stressed the importance of long-term solutions, including investments in energy infrastructure, regulatory reforms, and a more diversified energy mix that includes renewables and alternative fuels.

It added that stronger public-private coordination will be key to improving execution, sustaining investments, and enhancing the country’s resilience against future energy shocks.