The Department of Finance Philippines (DOF) has requested President Ferdinand Marcos Jr. to activate Republic Act 12316, or the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) of 2026, which allows the suspension or reduction of excise taxes on petroleum products.

Finance Undersecretary Karlo Fermin Adriano disclosed the request during a joint committee hearing on April 8 at the People Center Building.

Adriano said the DOF, as part of the UPLIFT committee, supports energy supply management and complementary measures under Executive Order 110, which placed the country under a state of national energy emergency amid tensions in the Middle East.

He noted that the department remains mindful of the impact of the crisis on Filipino households, particularly vulnerable sectors facing rising costs and reduced purchasing power.

Adriano said the DOF has adopted a multi-pronged strategy to address the economic impact, including fiscal interventions to boost revenues and support government spending.

He added that government revenues grew by 15.5 percent year-on-year in 2024, up from 7.8 percent in 2023, as reforms to improve efficiency and transparency in public spending continue.

“We are also strengthening our engagement with international partners and financial institutions to ensure that we remain well-positioned amid global uncertainties,” Adriano said.

The department continues to coordinate with other agencies to secure enough fuel by diversifying supply sources and pursuing structural interventions to cushion the impact of the global crisis.