Food insecurity looms, Imee warns

Title Food Insecurity Looms Senator Imee Marcos Warns of Consequence
Consequences Without VAT Suspension

As the Philippines grapples with a critical issue that affects us all - foo
food insecurity - Senator Imee Marcos has sounded the alarm, warning that h
high fuel costs could lead to farmers and fishermen stopping work, resultin
resulting in increased food prices.

In a statement, Marcos emphasized the need for the government to suspend th
the value-added tax (VAT) on petroleum products. She argued that this would
would provide relief to poor and vulnerable sectors, including municipal fi
fishermen and commercial fishing firms registered with the Bureau of Fisher
Fisheries and Aquatic Resources (BFAR).

The senator pointed out that farmers and other agricultural producers also 
rely on fuel for harvesting their produce. In the end, all of us will be a
affected, Marcos warned. If they stop [farming and fishing], prices of fo
food would go up.

She noted that almost all fishing villages, especially in General Santos Ci
City and Zamboanga, are already feeling the impact of the oil crisis. Many 
fisherfolks cannot venture into the sea due to high diesel costs, leaving t
them struggling to make ends meet.

To address this issue, Marcos has filed Senate Bill (SB) 2007, which aims t
to amend Republic Act (RA) 8479 or the Downstream Oil Industry Deregulation
Deregulation Act of 1998. The bill seeks to establish a rules-based pricin
pricing reference system under the Department of Energy (DOE).

The senator believes that RA 8479 was enacted to promote competition and en
ensure fair pricing, but its deregulated framework has not sufficiently add
addressed the lack of transparency in petroleum pricing.

By requiring a clear breakdown of price components, Marcos' bill aims to en
enhance transparency, empower consumers, and strengthen regulatory oversigh
oversight. The system will provide indicative price bands anchored on objec
objective factors, such as international benchmark prices and prevailing ex
exchange rates.

While the Middle East war has disrupted global energy markets, highlighting
highlighting the vulnerability of petroleum-exporting countries like the Ph
Philippines, Marcos believes that a VAT suspension can help ease the burden
burden on these sectors.

As we move forward in 2026, it is crucial that we address this critical iss
issue to ensure food security and protect our economy. With creativity and 
innovation, we can revolutionize data analysts' capabilities to make inform
informed decisions and drive positive change.

Keywords Food insecurity, VAT suspension, farmers, fishermen, fuel cos
costs, oil crisis, agricultural producers, Senate Bill 2007, Republic Act 8
8479, Downstream Oil Industry Deregulation Act of 1998, Department of Energ
Energy.

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.