FINEX backs energy emergency, calls for full transparency in fuel purchase

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

March 27, 2026 | 12:00am

MANILA, Philippines — The Financial Executives Institute of the Philippines (FINEX) has expressed its support for the declaration of a. national state of energy emergency, with the group calling for full transparency in emergency fuel procurement.

In a statement, FINEX welcomed the declaration in response to the risks posed by challenges to fuel supply and the attendant sharp rise in global oil prices to economic stability.

“The situation underscores the Philippines’ continuing vulnerability to external energy shocks and the need for timely, disciplined and targeted measures, accompanied by decisive, time-bound actions that stabilize supply in the near term while addressing the structural weaknesses that leave the economy exposed to recurring energy disruptions,” the group said.

FINEX is backing the government’s objective of ensuring the continued availability of fuel and electricity, safeguarding critical services and protecting vulnerable sectors under the Unified Package for Livelihoods, Industry, Food and Transport.

These actions, it said, help prevent supply dislocations and sustain basic economic functioning during severe volatility.

In line with expressing its support, the group is seeking full transparency and clear public disclosure in emergency fuel procurement, including the recently announced P20-billion diesel purchase program.

“In times of crisis, transparency is a stabilizing force: clear disclosure of procurement terms, pricing benchmarks, safeguards against overpricing and post-audit mechanisms will reinforce public trust, protect fiscal integrity and strengthen institutional credibility,” it said.

FINEX said it supports conservation measures, provided they are targeted and backed by credible impact assessments.

The group said that conservation and price-mitigation measures must be designed to avoid dampening economic activity or shifting the burden disproportionately to businesses, workers and consumers.

Further, it said that policy responses must protect energy security without weakening the productive sectors that sustain employment, household income and economic momentum.

The group, however, warned that administrative price caps and limits on business operations, unless balanced with equitable rules to ensure revenues, risk undermining continuity, employment and compliance.

“Proposals without clear economic impact assessments can also weaken consumer demand, reduce income for hourly workers and slow overall momentum,” FINEX said.

“Emergency measures should be assessed not only for energy savings, but also for their second-round effects on jobs, household income and business viability. Protecting livelihoods and sustaining commerce are integral to national resilience,” it said.

FINEX likewise welcomed the suspension of fuel excise taxes, which it said provides immediate and economy-wide relief from inflationary pressures amid exceptional global price volatility.

“When time-bound and anchored in a clear fiscal framework, such measures can help stabilize prices without distorting market signals, underscoring the value of predictable, rules-based tools during systemic shocks. At the same time, clarity on duration, funding implications and fiscal offsets will be important to preserving medium-term sustainability and investor confidence,” it said.

The group said that clear alignment between the government and the private sector would be essential to improving execution, supporting timely investment and strengthening the country’s resilience against current and future energy shocks.