President Marcos keen on certifying urgent the bill granting him emergency powers

President Ferdinand Marcos Jr. said he will certify as urgent a proposed emergency powers bill that would allow the government to respond quickly to surges in global oil prices caused by tensions in the Middle East.

Speaking to reporters in New York on Tuesday, March 10 (New York time), Marcos said the certification will be issued once both chambers of Congress complete their committee reports on the measure.

“I will declare it as urgent because there's no point declaring it as urgent before the committee report has been completed,” he said.

“The minute that you have completed your committee reports… that’s when the declaration of the bill as urgent really goes into effect,” he added.

Under the Constitution, a presidential certification of urgency allows Congress to bypass the requirement of three separate readings of a bill on different days, enabling lawmakers to fast-track critical legislation.

Marcos said the government’s request for emergency powers aims to give the executive branch the flexibility to act quickly if global oil prices rise sharply.

“It’s very, very simple. What we asked of the legislature is really very simple,” he said, explaining that the measure would allow the government to exercise emergency powers if oil prices breach a certain threshold.

“When the price of oil… has breached $80 per barrel on average for a month, then the emergency powers can be exercised,” Marcos said, adding that reaching the threshold would not automatically trigger the use of emergency powers.

The proposal comes as the government closely monitors global oil markets amid geopolitical tensions and supply uncertainties that could push fuel prices higher, affecting transportation costs and the prices of basic goods.

-Paraluman News