MANILA — The Senate of the Philippines is exploring a potential Bayanihan 3 program that could provide funding support and expanded subsidies to mitigate the impact of fluctuating oil supply and prices, a lawmaker said.

Sen. Sherwin Gatchalian said the measure is being considered as a contingency plan if current energy conditions worsen and require additional government intervention.

The proposed initiative would focus on three main areas: identifying funding sources, expanding subsidies and assistance, and offering economic stimulus or “pump-priming” measures to support growth.

“Wala pa itong definite na direction pero naghahanda kami kung kakailanganin (There is no definite direction yet, but we are preparing in case it becomes necessary),” Gatchalian said in a radio interview.

Funding needs could range from PHP90 billion to PHP400 billion, depending on developments, including the possible need to support large-scale repatriation of overseas Filipino workers, he added.

The senator noted that the government could draw from existing savings or propose a supplemental budget to finance the program if required.

He also stressed the importance of expanding targeted subsidies to help vulnerable households and transport workers affected by higher fuel costs.

“Mas dapat palawakin ang targeted assistance dahil ito ang direktang nakakatulong sa mga nangangailangan (Targeted assistance should be expanded because it directly helps those in need),” Gatchalian said.

At the same time, he warned against suspending procurement rules, citing risks of corruption as experienced in previous Bayanihan measures.

“Hindi na dapat isuspinde ang procurement laws dahil may risk ng corruption (Procurement laws should not be suspended because there is a risk of corruption),” he said.

Gatchalian emphasized that the proposal remains under review, particularly as global oil prices have shown signs of easing, and that existing funds may suffice for the short term.

The senator said the Senate will continue to monitor developments before deciding whether to move forward with Bayanihan 3, noting that the plan is intended as a precautionary measure rather than immediate policy.