Senator eyes P400B relief fund as crisis looms

Sherwin Gatchalian is pushing for a new round of government spending to cushion Filipinos from the potential economic impact of a prolonged conflict in the Middle East, warning that billions may be needed to sustain relief efforts.

Gatchalian said the government should prepare a supplemental budget or a possible “Bayanihan 3” measure to address rising fuel prices, inflation, and declining household incomes amid global uncertainty.

“Kailangan talaga ng supplemental budget or Bayanihan 3,” he said, noting that a broad social amelioration program could cost between P60 billion and P400 billion in a worst-case scenario.

The senator, who chairs the Senate committees on PROTECT and Finance, cited proposals in a preliminary report submitted to Malacañang outlining targeted assistance for vulnerable sectors.

Among the proposed measures is a P1,500 monthly subsidy for 5 million minimum wage earners and workers in micro, small, and medium enterprises, amounting to P7.5 billion per month.

The plan also includes P1,500 monthly cash top-ups for 3.5 million beneficiaries of the Pantawid Pamilyang Pilipino Program, costing P15.75 billion over three months.

Additional proposals cover near-poor and newly vulnerable households, with around 1.4 million families to receive P3,000 monthly aid, costing P4.2 billion per month. A similar allocation is proposed under an expanded Walang Gutom Program for another 1.4 million families.

Gatchalian stressed the need for proactive planning to ensure the government can respond quickly if global tensions continue to disrupt economic stability.