The KALINGA bill, proposed by House Speaker Faustino “Bojie” Dy and Majority Leader Alexander “Sandro” Marcos, has received backing from various leaders of economic agencies in the country as a measure that seeks to provide a preventive solution to market disruptions caused by global pressures.

During a hearing of the House Ad Hoc Committee on Legislative Energy Action and Development (LEAD) on Tuesday, government agencies involved in the Philippine economic sector noted that the provisions of the bill would allow for prompt government action during crises.

Under the KALINGA bill, the President would be granted emergency powers in the event that any of the triggers specified in the measure are met.

Officials from the Department of Budget and Management (DBM), Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), and the Department of Economy, Planning, and Development (DEPDev) expressed support for the bill’s passage.

They noted that the measure could institutionalize a comprehensive response framework to safeguard the country from potential fuel and energy supply disruptions stemming from local or global issues.

Finance Undersecretary Karlo Adriano likened the bill to the Bayanihan laws passed in 2020, which also granted former President Rodrigo Duterte emergency powers to assist the public and healthcare workers during the COVID-19 pandemic.

“The KALINGA Act functions as a safeguard against the cascading effects of fuel-driven inflation and energy supply disruptions,” Adriano said.

Officials also agreed that the act would provide the government with an avenue to extend urgent support to key sectors most affected by market volatility.

In a statement on the bill, Dy stressed that the proposal goes beyond addressing current issues, noting that it is a preventive and precautionary measure to ensure government preparedness for future crises.

“At the center of the measure is the KALINGA Program, a whole-of-government response system that is automatically activated once critical warning signs appear, such as sharp increases in fuel prices, extraordinary inflation, low fuel supply levels, or the declaration of a national energy emergency,” he said.