PBBM certifies as urgent a bill to ease limits on importation of biofuels

PBBM pushes urgent measure on biofuel imports

President Ferdinand "Bongbong" Marcos Jr. has certified a bill as urgent that seeks to ease restrictions on the importation of biofuels.

“I hereby certify to the necessity of the immediate enactment of Senate Bill No. 1965… to mitigate the impact of rising fuel prices amid escalating geopolitical tensions and volatility in global markets, as well as to strengthen the country’s resilience against future disruptions to energy supply,” the President said in a letter addressed to Senate President Vicente "Tito" Sotto III.

Senate Bill No. 1965 seeks to amend certain provisions of the Biofuels Act of 2006, which requires the use of locally sourced biofuels in fuels sold at the pump. The proposed measure would allow the President, through an executive order, to authorize increased imports of biofuels, such as bioethanol for gasoline and biodiesel for diesel, if the price of blended fuels becomes at least 5% higher than that of pure fuels.

The bill also allows such presidential authorization to remain in effect for up to one year, regardless of local supply availability.

Last week, the President also certified as urgent a bill that would grant him emergency powers to reduce or temporarily suspend excise taxes on fuel, in a bid to ease the impact of rising fuel prices in the country.