Senate President Pro Tempore Ralph Recto said he supports calls for President Duterte to call Congress to a special session and declare a State of Economic Emergency.
Senate President Pro Tempore Ralph Recto on Tuesday, March 8 said he supports calls for President Duterte to call Congress to a special session and declare a State of Economic Emergency.
Calls for the President to call both the Senate and House of Representatives to a special session followed the unabated increases in the prices of oil products caused by international factors, including the current Russian invasion of Ukraine. For reelectionist Senator Sherwin Gatchalian, chairman of the Senate Energy Committee, ‘The fundamental problem on why we are experiencing high prices of oil is because we import close to 100 percent of our oil requirements, making our country very susceptible to global price shocks.’’
4. Suspension of excise taxes on fuel as the last resort if fuel prices will remain elevated for the next few months.