THE National Government will put in place mitigating measures and contingency plans to strengthen the domestic economy amid the Ukraine-Russia conflict, Cabinet Secretary Karlo...
THE National Government will put in place mitigating measures and contingency plans to strengthen the domestic economy amid the Ukraine-Russia conflict, Cabinet Secretary Karlo Nograles said on Wednesday, March 2, 2022.
He said the government will also distribute financial aid to the affected farmers, including fertilizer subsidy, in response to its increasing price. “Kung kinakailangan nakahanda ang pamahalaan na isakatuparan ang implementasyon ng Price Control Law. We shall likewise continue talks with our partners and heightened negotiations with non-traditional partners to address threats to agricultural exports while improving our digital agriculture, infrastructures and systems,” he added.Russia’s attacks against Ukraine, one of the major producers of oil products in the world, have resulted in fuel price hikes.
He said the DOE assured that it will continue to monitor the sufficiency in supply and quality of oil products and will make sure there will be no short selling. He said Duterte also nodded the recommendation of the Department of Trade and Industry to accelerate renewable energy adoption, support investments in utility scale battery storage to maximize utilization of renewable energy sources, support investments in modern storage facilities for oil and grains to increase within the border holding capacity and empower the private sector to help in strategic stockpiling.
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