Senate bill seeks relief from fuel hike impact

A proposed measure in the Senate is pushing for a wide-ranging relief package aimed at shielding workers and small businesses from the continuing impact of rising fuel prices.

Senator Mark Villar said Senate Bill No. 2032, or the Relief and Recovery Interventions for Low-Income Earners, Minimum Wage Earners, Self-Earning Individuals, and Micro, Small, and Medium Enterprises (RELIEF) Act, is designed to cushion vulnerable sectors as oil price increases ripple through the cost of goods and services.

“Ramdam natin ang patuloy na pagtaas ng presyo ng langis, ngunit mas mabigat ang epekto nito sa mga kumikita ng minimum wage, sa ating mga self-earning na kababayan, at sa maliliit na negosyo. Kailangan nating tiyakin na may sapat silang proteksyon at suporta,” Villar said.

The senator cited a study from the Philippine Institute for Development Studies warning that as many as 3.1 million more Filipinos could fall into poverty if fuel prices remain high, with micro, small and medium enterprises (MSMEs) among the most exposed.

The proposed “RELIEF Act” lays out several interventions, including temporary relief from financial obligations, easier access to credit, and more flexible tax and compliance schedules for affected sectors.

It also provides for grace periods on rent and loan payments, penalty-free loan restructuring, and low-interest credit facilities to help both workers and small businesses cope with higher operating costs.

Covered beneficiaries include minimum wage earners in both public and private sectors, self-employed individuals such as vendors and service providers, and MSMEs, which make up the bulk of enterprises in the country.

The measure also allows for extended deadlines and credit accommodations during periods of sustained fuel price increases, aiming to prevent further economic strain on low-income households and small operators.