Category: Business Mirror

THE Department of Health (DOH) on Wednesday reported a total of 3,440 leptospirosis cases in the country, much lower than the total in the same period in 2025, despite fears of a surge in incidence as serial typhoons and nonstop rains triggered by the southwest monsoon have forced many people to wade in floods.

According to the DOH, the total number recorded as of August 8, 2026, is 35 percent lower compared to the 5,318 cases recorded during the same period last year.

However, the DOH said that there was a slight increase in cases from July 12 to 25, where 348 cases were reported, which is 27 percent higher compared to June 28 to July 11, 2026 (275 cases).

The Department reminded the public once again to avoid wading in floodwaters, especially if a person has wounds or scratches on skin.

‘If unavoidable, wear boots and immediately wash your hands and body using soap and clean water,’ the DOH said.

Even without symptoms, if one has waded in floodwaters or been exposed to mud, the DOH said that one should immediately consult the nearest health center or doctor within 24 to 48 hours to assess the risk level and receive appropriate treatment or prophylaxis.

‘Meanwhile, if you are experiencing fever, headache, chills, back or leg pain, or redness of the eyes, immediately consult the Leptospirosis Fast Lanes of DOH hospitals or the nearest health facility,’ the DOH said.

INTERIOR Secretary Juanito Victor Remulla on Wednesday has called on the Congress to amend Republic Act 8294, which made illegal possession of firearms a bailable offense.

Remulla said this is the reason why gun crimes have surged over the past few years, because the offense became bailable.

‘We looked at the numbers, 98 percent of gun crimes are committed with loose firearms,’ he said.

Remulla said the law, informally called the Robin Padilla Law, is to blame for the surge of gun-related crimes, the latest of which was the death of two students, including the student-suspect at the Ateneo de Zamboanga University in Zamboanga City.

‘I am proposing to Congress to make it a non-bailable offense,’ he said.

In recommending the amendment, or reversal of the stiff penalty of the law, the DILG chief wants to restore strict legal barriers, making unauthorized possession of firearms a preventable, non-bailable violation to keep criminals off the streets.

Revilla earlier issued a statement condemning the incident, which saw the suspect even livestreaming his acts before committing suicide by jumping from the fifth floor of the school building.

Police are still investigating as to what prompted the suspect to commit the crime.

Earlier, Remulla issued a statement condemning the sad fate of the victims.

‘It is with profound sadness that we find ourselves undergoing yet another trial as a society. In the midst of incessant rains and an impeachment trial, we now find ourselves investigating the latest tragedy in Zamboanga City.’

‘Once again, it involves students. Once again, it involves firearms. Once again, it has cost lives.’

‘The safety of Filipino children is paramount.’

He added that children know few things about politics as they have still to discover and discern right from wrong, thus the incident must not be politicized.

‘What is confounding is the cruelty of the crime. It is one of the few times where everyone is a victim. The shooter, however young and troubled he may have been, is himself a victim of what I believe are video games inhabited by actors who induce terror, influencing young and fallible minds,’ he said.

‘The students, security guards, and others who were injured have no sin except being at the wrong place at the wrong time,’ he said.

The DILG chief said the safety of everyone is paramount. ‘Whether you are caught in a flood or a fire, or find yourself in the crosshairs of a gunman, we should be protecting you.’

According to Remulla, gun ownership is a privilege accorded to those who need to protect themselves. But that privilege carries with it not only the responsibility of ownership, but the responsibility of safekeeping. One cannot exist without the other.

‘We will take the steps to ensure that this kind of tragedy can be prevented. If that hurts the sensibilities of a few, or of the many, then let your voices be heard. We will make the hard choices to protect the Filipino people. The social contract holds. This country will remain safe. That is our duty,’ Remulla ended.

MANY flood control master plan being crafted must not only be technically comprehensive but also be designed to span multiple administrations, ensuring continuity despite changes in government, Sen. Panfilo M. Lacson stressed on Wednesday.

Lacson made the call after noting that the master plans of previous administrations were often discarded by the successors, leaving ordinary Filipinos to continue suffering from the effects of flooding.

‘There should be continuity and the master plan should be multi-administration in scope. It must be designed to cross administrations. Minor modifications can be made over time to adapt to new situations, but the core of the basic plan must remain,’ he said in a radio interview.

Lacson noted that during the Aquino administration, then Public Works Secretary Rogelio Singson drew up a master plan for flood control, but this was disregarded by the Duterte administration.

Lacson noted that funding for flood control projects rose sharply across successive administrations. From 2011 to 2016, funding stood at P183.546 billion. This increased to P748.417 billion from 2017 to 2022, and surged to P1.0066 trillion from 2023 to 2025.

‘I recall Singson crafting a master plan that was cost-efficient and systematic. But when there was a change in administration, that plan was discarded. This has been the pattern where each administration insists on having its own master plan,’ he said.

Also on Wednesday, Lacson pointed out that civil engineers and their forensic expertise can play a major role in establishing accountability not only for flood control projects but for other infrastructure such as roads and bridges.

Lacson called on civil engineers’ associations to organize inspection teams that can examine roads, bridges and other infrastructure damaged by recent floods, and determine through forensic analysis whether the damage was due to structural design or implementation.

‘We can call on associations of civil engineers to help in the inspection of infrastructure, including those damaged by recent floods. They can use forensics to determine if the damage stemmed from faulty structural design or implementation,’ he said in an interview.

‘As of now, no one is being held accountable. If we are to go after those responsible, we must start inspecting projects implemented in the last five years or so,’ he added.

Lacson said that had Singson’s master plan been followed, some of the P1.939 trillion poured into the Department of Public Works and Highways alone for flood control could have been avoided or used more efficiently.

Worse, he said that based on the testimonies of former Public Works officials Roberto Bernardo, Henry Alcantara and Brice Hernandez, 35 to 40 percent of the P1.939 trillion could have been lost to corruption.

‘Kwentahin nyo na lang ang 35-40 percent ng P1.9 trillion kung magkano ang nawala. Tapos nandiyan pa ang baha [You can compute how much is 35 to 40 percent of P1.9 trillion-that is the amount lost to corruption. And yet, the floods are still there],’ he said.

Meanwhile, Lacson said forensic inspections could help establish responsibility and identify those who should be held accountable, including contractors, Department of Public Works and Highways (DPWH) officials, and politicians who proposed the infrastructure projects.

‘The infrastructure projects must be inspected, and the contractors, DPWH officials and politicians who are proponents of the projects must be held accountable,’ he said.

This accountability drive should cover not only flood control projects but also other infrastructure projects whose failures may have been exposed by recent flooding, he added.

SIXTY government agencies will begin testing a new governance framework aimed at measuring whether internal systems deliver results beyond mere compliance, under the Civil Service Commission’s (CSC) modernization program.

CSC rolled out the Program to Institutionalize Meritocracy and Excellence-Embedded Systems Governance (PRIME-ESG) Foundations Course to representatives of the pilot agencies on Aug. 17 and 18 in Quezon City.

Around 200 participants from national government agencies, state universities and colleges, government-owned and -controlled corporations, and local government units joined the two-day course.

PRIME-ESG is designed to assess whether government systems are institutionalized, sustainable, fair and accountable, while linking these processes to organizational performance and public value.

CSC Chairperson Marilyn B. Yap said the program expands the commission’s existing meritocracy initiatives by pushing agencies to look beyond procedural compliance.

‘PRIME-ESG builds on that foundation. It asks us to look beyond compliance and to examine whether our systems are truly working, whether they are institutionalized and sustained, whether our decisions are fair and accountable, and whether our efforts ultimately contribute to better government and greater public value,’ Yap said.

The foundations course introduced agencies to PRIME-ESG’s framework, principles, terminology and operational mechanisms.

It also laid out the responsibilities of agencies and officials involved in implementing the system.

The rollout forms part of the Philippine Civil Service Modernization Project, a government initiative supported by the World Bank through official development assistance.

Pilot agencies will next undergo Operations Manual 02-Governance Level Operations on Aug. 25 and 26.

That phase will shift the focus from basic concepts to a more detailed review of governance-level processes within participating institutions.

CSC said the 60 agencies will serve as the first testing ground for translating PRIME-ESG standards into actual government operations.

Their implementation aims to help shape the broader rollout of a governance system aimed at improving institutional capability, accountability and service delivery across the civil service.

Despite weather-related suspensions that disrupted committee hearings, the House of Representatives remains on track to approve the proposed 2027 national budget on schedule, with lawmakers adjusting the hearing calendar to recover lost time without sacrificing scrutiny of agency spending.

Under the revised schedule, House Committee on Appropriations Chairperson Mikaela Suansing said budget briefings will resume on Monday, August 24, with the Philippine Amusement and Gaming Corporation, Department of Trade and Industry, Department of Justice, Philippine Charity Sweepstakes Office, and Department of Science and Technology appearing before the appropriations panel.

‘We have adjusted our schedule to make up for the hearings that could not proceed because of the inclement weather. We have a responsibility to thoroughly scrutinize the proposed national budget, but we also have a timetable to meet. We intend to do both,’ said Suansing.

The revised calendar consolidates several agency briefings into each hearing day and allows simultaneous hearings in separate venues when necessary. Committee-level deliberations are currently scheduled to continue through September 8.

Among the departments and agencies set to appear next week are the Department of National Defense, Office of the Ombudsman, Department of Human Settlements and Urban Development, and Commission on Audit on August 25.

On August 26, the panel will hear the budget proposals of the Department of Public Works and Highways, Department of Environment and Natural Resources, and Department of Migrant Workers.

The Office of the President, Department of the Interior and Local Government, Commission on Higher Education, and Presidential Communications Office are scheduled to face the committee on August 27.

Budget hearings will continue into September and will cover major government agencies, including the Departments of Agriculture, Health, Energy, Transportation, Education, Social Welfare and Development, and Labor and Employment. The Office of the Vice President, Judiciary, and other constitutional offices are also included in the schedule.

Suansing said the committee has built flexibility into its calendar to accommodate possible further disruptions without compromising the quality of congressional scrutiny or putting the House budget timetable at risk.

The Appropriations Committee chair emphasized that maintaining the schedule does not mean rushing agency officials or limiting lawmakers’ opportunity to closely examine proposed expenditures.

‘We will not sacrifice the thorough scrutiny of the budget just to keep up with the schedule. What we are doing is managing our time better and making the necessary adjustments early so that every agency can still be properly scrutinized and every peso in the proposed budget can be properly accounted for,’ explained Suansing.

She added that the House leadership and the Appropriations Committee recognize the importance of completing committee deliberations on time to provide sufficient opportunity for plenary debates and the succeeding stages of the national budget process.

‘Our goal remains the same: a budget that is carefully and transparently examined, responsive to the needs of our people, and approved on time. We will make the adjustments necessary to get there without compromising the work that Congress is expected to do,’ she added.

A QUARTER-POINT hike at the Monetary Board’s rate-setting meeting next week could be a ‘good defense’ for the local currency against a strong US dollar.

Jonathan L. Ravelas, senior adviser at Reyes Tacandong and Co., said on Wednesday that the dollar is stronger today for two reasons: ‘First, investors are positioning ahead of the Fed minutes, hoping for guidance on the interest rate outlook.’

Second, the foreign exchange analyst said: ‘Lingering geopolitical uncertainty in the Middle East is encouraging a flight to safety.’

In uncertain times, the US dollar remains ‘the world’s preferred safe-haven currency,’ he explained further.

As such, Ravelas said, a ’25bps hike next week could be a good defense.’

Explaining this further, he said that raising interest rates ‘tends to boost local assets, thus attracting foreign funds to invest here.’

Ravelas said he also expects the central bank to raise the key interest rate next week as inflation remains elevated.

For Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr., a rate hike ‘is not a guaranteed ‘help.’ Higher rates may attract foreign money to place funds in the PHL, especially from investors that earn lower interest in their home country.’

Meanwhile, John Paolo Rivera, Senior Research Fellow at Philippine Institute for Development Studies (PIDS) told the BusinessMirror that a rate hike can help stabilize the peso at the margin.

‘But monetary policy should ultimately be driven by inflation and the broader economy, not by defending 62,’ Rivera pointed out.

On Wednesday, the Philippine peso closed at P61.815 against the dollar, data from the Bankers Association of the Philippines (BAP) showed.

This marked the fifth straight trading day of the peso’s losing streak against the dollar due to higher oil prices and geopolitical uncertainty.

The rate is 3 centavos weaker than its previous finish of 61.785 on Tuesday.

Rivera attributed the further weakening of the local currency to ‘mainly’ external factors, including higher oil prices, geopolitical uncertainty, and ‘cautious sentiment toward emerging-market currencies.’

Within the trading session, the peso hit its weakest intraday level of 61.995. Its strongest level within the trading day, however, was seen at 61.73 against the greenback.

According to Rivera, some dollar selling and profit-taking likely helped the peso recover from its weakest intraday level.

‘Market participants may also have viewed levels near 62 as an opportunity to take positions,’ Rivera told this newspaper.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC), attributed the weakening of the local currency to the global oil prices lingering at near three-week highs.

According to Ricafort, Brent crude oil price was steady at US$91 per barrel, the highest in three weeks or since July 30,2026.

Moving forward, Rivera expects the peso to remain ‘volatile’ in the near term but noted that much will depend on oil prices, global risk sentiment, and US monetary policy.

‘Key issue is not a specific level, but whether the movement remains orderly and whether sustained weakness begins to add materially to inflation.’ added Rivera.

FILIPINOS’ expectations of financial improvement in the next 12 months plunged to their lowest levels in four years, with inflation, rising living costs and energy prices cited as the leading concerns affecting consumers’ financial outlooks.

The ‘2026 Credit Perception Index’ report by Transunion Information Solutions Inc. further revealed that in the next three months, only 64 percent of Filipinos said their financial situation will be better. This is the lowest rate since 2023 or when TransUnion started tracking Filipino consumers’ sentiment.

Likewise, the percentage of Filipinos who agreed that their financial well-being will ease in the next 12 months plummeted to 73 percent, also the lowest in four years.

The study pointed to inflation, rising living costs and energy prices as major dampeners to the confidence of people who Transunion polled.

Inflation has peaked to 7.2 percent in April as ripple effects of the war in the Middle East pushed local gasoline prices to hit nearly $2 to a third of a gallon.

In the next three months, 61 percent of Filipinos expressed concern over inflation while 60 percent fret over the fuel price volatility.

Meanwhile, 44 percent expressed worries over higher household expenses such as rent, utilities and groceries while 35 percent fret over geopolitical uncertainties. About 34 percent fear the possibility of recession over the three-month horizon.

In the next year, 61 percent of Filipinos expressed concern over the erratic fuel prices. The same percentage of people also flagged higher living costs as one of the top culprits for their waning financial confidence.

These were followed by recession concerns, which 44 percent Filipinos are worrying about in the next 12 months while 41 percent are fretting over geopolitical uncertainties and 39 percent expressed concern on rising household expenses.

As fewer Filipinos believe their financial situation will improve in the coming year, the study showed that Filipinos turn to credit to support everyday financial needs.

The study revealed that 59 percent utilize credit for emergency expenses, 50 percent use credit products for personal expenses and 45 percent said they use credit for family expenses.

About 36 percent of Filipinos said they borrow to pay utility bills while 29 percent said they use credit products for education.

TransUnion Philippines President and CEO Peter Faulhaber considers such behavior as a ‘sign of a maturing perception of credit.’

‘So rather than using credit, perhaps, to just buy things that aren’t necessarily important, or just rack up really large bills, they’re using it strategically for specific purposes, which shows us, at least from an education perspective, they’re aware of what it can be used for, how they can use it, the requirements to pay back,’ Faulhaber said during a briefing last Wednesday.

He added that emergency expenses as the top reason behind Filipinos’ use for credit is ‘actually a good sign.’

‘I think if there were more discretionary items at the top, that would concern us more, because that would show us that the education and the important uses of credit is not necessarily where we want it to be,’ Faulhaber said.

Rizal Commercial Banking Corporation (RCBC) and the Social Security System (SSS) formalized their partnership through the signing of a Memorandum of Agreement (MOA) for the rollout of SSS Loan Lite powered by RCBC DiskarTech last August 11, 2026, at the Yuchengco Museum in RCBC Plaza.

SSS Loan Lite is a fully digital lending service that enables qualified SSS members to apply for and receive microloans through the RCBC DiskarTech mobile app, making formal credit more accessible, convenient, and secure.

The latest initiative builds on the success of the MySSS Card powered by RCBC DiskarTech, which has expanded access to a three-in-one solution combining social security, digital banking, and debit card functionalities. MySSS card onboarding through RCBC DiskarTech has grown by 830% since its launch, while SSS benefits disbursed through the platform have exceeded Php 2.69 Billion from January to July 2026.

Building on this momentum, SSS Loan Lite extends the partnership into digital credit, providing qualified members with a secure and convenient alternative to informal lending channels.

Through SSS Loan Lite, eligible SSS members can complete their loan application anytime through RCBC DiskarTech, with real-time eligibility validation, immediate loan decisioning, and instant disbursement upon approval. The end-to-end digital process allows members to access financial assistance without the need to visit a branch or submit physical documents.

Eligible SSS members may access short-term cash loans ranging from Php 1,000 to Php 20,000, subject to applicable rates and offered with flexible repayment options of 15, 30, 60, or 90 days to address immediate financial needs. Qualified borrowers may also conveniently repay their loans through automatic debit arrangements via their DiskarTech accounts.

Both institutions said the initiative forms part of their continuing efforts to provide accessible and secure alternatives to informal lending channels.

RCBC President and CEO Reggie B. Cariaso said the expansion of the bank’s collaboration with SSS demonstrates how public-private partnerships can harness digital technology to broaden access to formal financial services.

‘For RCBC, this is about building partnerships that can create lasting value at scale. Our work with SSS has already proven how digital platforms can extend the reach of essential financial services. With SSS Loan Lite, we are taking that collaboration further and creating new opportunities to serve members throughout their financial journey,’ Cariaso said.

‘We are pleased to partner with RCBC in expanding the ways through which our members can

access SSS services and financial assistance,’ said SSS President and CEO Robert Joseph de

Claro. ‘With SSS LoanLite, qualified members can avail themselves of a secure and convenientdigital borrowing experience that supports their immediate needs while promoting responsible

participation in the formal financial system.’

RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva said the collaboration supports ongoing efforts to expand digital financial access through partnerships with government institutions.

‘SSS Loan Lite brings together the trust of SSS and the convenience of RCBC DiskarTech to make loan access faster, simpler, and fully digital. Eligible members can apply anytime, receive real-time application updates, and have approved loan proceeds credited directly to their DiskarTech account.’

‘Beyond convenience, this initiative empowers Filipinos with access to safe, affordable, and regulated credit whenever they need it most. It reflects our continuing commitment to use digital innovation to improve financial inclusion and promote healthier financial behaviors among Filipinos,’ Villanueva added.

The MOA was signed by RCBC President and CEO Reggie B. Cariaso, Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva, and First Vice President and Head of Digital Loans and Business Development Jose Carlo Eufemio. Representing SSS were President and CEO Robert Joseph Montes De Claro, Senior Vice President for the Member Services and Support Group Joy A. Villacorta, and Senior Vice President for the Lending and Asset Management Group Pedro T. Baoy.

DiskarTech, RCBC’s award-winning financial inclusion super app, has been cited in regional studies, including a Mastercard whitepaper, for its role in expanding access to formal banking services among underserved communities.

The Social Security System (SSS) and Government Service Insurance System (GSIS) have recently introduced micro loan programs that provide emergency financing at a 6% annual interest rate, offering members a more affordable alternative to informal lenders that may charge interest rates of up to 10% per month.

In an interview with DZRH News on August 8, 2026, Department of Finance Secretary Frederick D. Go said he had challenged both SSS and GSIS to develop lending programs that would help members avoid falling into debt traps caused by high-interest informal loans.

Digital parenting is becoming less about keeping children away from technology and more about preparing them to use it with judgment, balance and confidence.

That was one of my strongest takeaways from TikTok’s #ThinkTwice Troop Townhall, held in celebration of International Youth Day, where TikTok officially launched its #ThinkTwice Family Guide in the Philippines.

Created with Child Rights Coalition-Asia, Child Rights Network and Plan International Pilipinas, the guide aims to help Filipino families begin open conversations, build trust, and develop healthier and safer digital habits together. It contains conversation starters, reflection activities, digital safety tips, and information about TikTok’s tools and safety features. Families can find it by searching ‘Think Twice’ on TikTok, which leads to the #ThinkTwice Digital Check-In Hub.

Yves Gonzalez, TikTok public policy head for the Philippines, put the campaign’s premise clearly: ‘For many families today, digital life is no longer separate from everyday life-where young people learn, socialize, create, and discover who they are.’

He added, ‘That’s why building healthier digital habits requires more than rules alone. It requires open conversations, mutual understanding, and practical tools that families can explore together.’

For parents of younger children, I believe this conversation should begin even before our children become teens. We can build the habits that will later shape how they respond to screens, emotions and boundaries. This is where the practical pointers of developmental and behavioral pediatrician Dr. Francis Dimalanta stood out for me.

Dimalanta’s reminders put the Teens first: Establish daily routines; support Emotional regulation; be ‘Now,’ or be present in the moment; and Spark conversation (TEENS). On routines, he reminded parents that ‘adolescent sleep architecture is already vulnerable.’ For younger children, the larger lesson is useful: predictable family routines can create structure before devices become a source of negotiation.

His point on emotional regulation is just as important: ‘When they are crying, you don’t tell them to stop crying.’ Children need help feeling and regulating emotions rather than simply being told to switch them off. When home is a safe place for feelings while our children are small, we build the possibility that they will come to us with harder experiences later.

Being ‘Now’ means dealing with the child and their concern in front of us rather than bringing back every past mistake. And to spark conversation, parents need to move beyond questions that can be answered with one word. We can share something from our own day, ask what made them laugh or what made them curious. Conversation is a habit too.

The #ThinkTwice initiative supports this family approach with concrete safeguards. According to TikTok, teen accounts have more than 50 preset safety and privacy features and settings, including private accounts, content restrictions and daily screen-time limits set to 60 minutes.

The Family Digital Check-In Guide complements TikTok’s Safety Center resources, including its Guardian’s Guide and Teen Safety Center, as well as Family Pairing tools.

Sheila Estabillo of Plan International Pilipinas said: ‘For parents, our goal is not to become the technology police. We don’t need to know every app or every trend. What matters more is becoming a trusted digital guide-someone your teen can turn to when something uncomfortable or confusing happens online.’

Amihan Abueva of Child Rights Coalition Asia brought the discussion back to something that begins long before a first social-media account: relationship. ‘Building the link between the parent and the teen is something even before the digital conversation comes in. So, if you have developed a good relationship with your teen, where they feel comfortable, hopefully that extends when they enter the digital world.’

For me this is especially valuable for parents of younger children. Digital safety does not suddenly begin when a child becomes a teenager. We prepare for it in the ordinary years before that-in routines, play, conversations, boundaries and trust. In my interview with undersecretary Angelo Tapales of the Council for the Welfare of Children, he also emphasized that children have a right to play, including leisure and open spaces where they can play. A healthy childhood must include a world beyond the screen.

I believe simplifying parenting means focusing our energy on what matters most. We may never master every new platform our children will encounter, but we can know our children. We can listen, stay present, create routines, protect time for play and keep conversation open. If #ThinkTwice begins with one simple family habit, perhaps it is this: Before we ask our children to think twice online, let us build the kind of relationship that makes them want to talk to us first.

Next week, I will share in more detail thoughts from panelists Sheila Estabillo, program manager, Plan International Pilipinas; Amihan Abueva, regional executive director, Child Rights Coalition Asia; Dr. Francis Dimalanta, developmental and behavioral pediatrician; and Kuya Kim Atienza, veteran television host, educator and parent creator.

THE Philippine National Oil Company (PNOC) has funded and started studies to build at least one oil storage tank by end of next year.

‘The Philippine National Oil Corporation reported that they have already started the studies and they have already allocated a budget with objective of having at least one tank ready by the end of 2027. That is one million barrels per tank,’ said PNOC chairman and Energy Secretary Sharon Garin.

PNOC, in partnership with the Maharlika Investment Corp., are developing a strategic petroleum reserve and oil storage facility. Maharlika proposed a consortium with PNOC and the private sector to build oil depots to store strategic reserves. Maharlika would act as a capital provider, PNOC would contribute assets and private operators would manage the facilities.

The investment is initially pegged at P5 billion per storage tank, capable of storing 500,000 to one million barrels of oil.

‘We are moving this forward to provide the country with a government-held emergency fuel buffer that can be called upon when major international supply disruptions threaten our energy security,’ said Garin.

‘Our objective is hopefully to have around 15 tanks, but that will take time because this is a very expensive and long process,’ she added.

Garin pointed out that building comprehensive infrastructure like roads and ports for petroleum reserves decreases the country’s vulnerability to global economic shocks by diversifying and expanding its energy mix.

‘What we need are roads, ports, and all the other facilities that should be in a petroleum reserve.

Every additional source we develop, every reserve we build, and every indigenous

energy resource we bring into our energy mix makes the country less vulnerable to the next global shock,’ added Garin.

The Senate and the House of Representatives are already tackling the proposed bills related to establishing the Philippine Strategic Petroleum Reserve (PSPR) system.