The country’s leading business organizations have unified to announce a strategic partnership with the national government to safeguard Filipino consumers and maintain economic stability in the face of the escalating Middle East crisis.
In a high-level consultative meeting convened by Finance Secretary Frederick D. Go, representatives from the nation’s premier business chambers expressed their full support for a “whole-of-nation” approach to mitigate the impact of volatile global oil prices and supply chain disruptions.
Recognizing the serious threat that fluctuating energy costs pose to the welfare of the Filipino people, the joint business groups and the Department of Finance have outlined a comprehensive roadmap focusing on four critical pillars:
-
Securing Energy Supply: The government is exploring government-to-government (G2G) oil procurement agreements with non-traditional partners—including Russia, Indonesia, and India—to ensure a steady fuel supply.
-
Ensuring Price Stability: A commitment to maintaining steady interest rates and reducing non-fuel operational costs to prevent inflationary surges in basic commodities.
-
Targeted Subsidies: The implementation of direct support for marginalized transport sectors, such as jeepney and bus operators, to prevent fare hikes while protecting the livelihoods of transport workers.
-
Strengthening Local Industry: A renewed “Buy Local” campaign to bolster Philippine-made products, protecting domestic jobs and insulating the economy from global supply shocks.
As active partners in nation-building, the undersigned business groups have pledged to implement immediate internal measures to reduce the national energy burden:
-
Energy Conservation: Aggressive energy-saving protocols across all corporate and industrial facilities.
-
Logistics Optimization: Adopting flexible work models to drastically lower transportation fuel demand.
-
Renewable Energy Investment: Accelerating the transition to alternative energy solutions, specifically solar power, to decrease long-term dependence on imported fossil fuels. “Unity is our greatest strength in navigating global instability,” the groups stated in a joint message. “We thank Secretary Go for this vital collaboration and reaffirm our commitment to a continuing dialogue to protect Filipino consumers and ensure economic resilience.”
Undersigned organizations:
-
Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII)
-
Federation of Philippine Industries (FPI)
-
Makati Business Club (MBC)
-
Management Association of the Philippines (MAP)
-
Philippine Chamber of Commerce and Industry (PCCI)
