P170-B savings seen from gov’t cuts
SENATE Finance Committee Chairman Sherwin T. Gatchalian said about P160 billion to P170 billion could be saved by the government which could fund measures in mitigating the impact of the conflict in the Middle East.
In a press briefing on Wednesday, Mr. Gatchalian, who also heads of the Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT) committee, said cutting down on maintenance and other operating expenses (MOOE), personnel services, and capital outlay may help the country’s respond to the crisis.
Mr. Gatchalian said they have identified nonessential activities such as travel, on-site seminars, and training that may be set aside during the crisis.
If the government reduced its MOOEs by 10%, P80 billion could be saved, while at 20%, the senator estimated up to P170 billion, the senator noted.
“We should reexamine our expenses on infrastructure that might not be needed. But the PROTECT committee will make recommendations,” Mr. Gatchalian said during the Kapihan sa Senado press conference.
On Tuesday, President Ferdinand R. Marcos, Jr. declared a state of national energy emergency 24 days after the US and Israel launched strikes on Iran to attack its nuclear assets on Feb. 28.
The conflict has caused oil shocks in the region, prompting the Senate to establish the ad hoc committee PROTECT and the formation of the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) committee, under the Executive Order No. 110.
Mr. Gatchalian is expecting a national contingency plan following the state of emergency declaration and creation of the UPLIFT committee. — Kaela Patricia B. Gabriel
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