Joint Statement on Protecting the Filipino Consumers

30 March 2026 – We, the undersigned Philippine Business Groups, express our deep appreciation to the national government, through Finance Secretary Frederick D. Go, for convening us to discuss the Middle East Crisis and to explore collaborative measures that will safeguard Filipino consumers and the Philippine economy.

We recognize that volatile global oil prices pose serious threats to our nation’s economic stability and the welfare of our people. To mitigate the numerous risks, the following were clarified, proposed and discussed:

1. SECURING SUPPLY – Establishing government-to-government oil procurement with non-traditional partners, such as Russia, Indonesia, and India.
2. PRICE STABILITY – Maintaining steady interest rates and reducing non-fuel costs to prevent surges in the prices of basic commodities.
3. TARGETED SUBSIDIES – Providing direct support to marginalized transport groups (such as jeepney and bus operators) to cushion the impact of rising fuel costs without triggering fare increases.
4. BUY LOCAL – Promoting local industries and Philippine-made products to protect jobs and strengthen resilience against global supply chain shocks.

As partners in nation-building, we commit to a whole-of-nation approach. Specifically, we pledge to:

1. CONSERVE ENERGY – Implement aggressive energy-saving measures across corporate and industrial facilities.
2. OPTIMIZE LOGISTICS – Adopt flexible work models to significantly reduce transportation fuel demand.
3. PROMOTE A CULTURE OF CONSERVATION – Encourage our workforce to embrace sustainable energy habits both at work and at home.
4. DEVELOP RENEWABLE ENERGY SOURCES – Invest in and accelerate the adoption of alternative energy solutions, particularly solar power, to reduce dependence on imported fuel and strengthen long-term energy security.

Unity is our greatest strength in navigating global instability. We thank Secretary Go for this vital collaboration and reaffirm our commitment to a continuing dialogue with the government to protect Filipino consumers and ensure economic resilience.

FEDERATION OF FILIPINO-CHINESE CHAMBERS OF COMMERCE AND INDUSTRY, INC. (FFCCCII)
FEDERATION OF PHILIPPINE INDUSTRIES (FPI)
MAKATI BUSINESS CLUB (MBC)
MANAGEMENT ASSOCIATION OF THE PHILIPPINES (MAP)
PHILIPPINE CHAMBER OF COMMERCE AND INDUSTRY (PCCI)