ESPRESSO MORNINGS
By Joe Zaldarriaga
He was the architect behind Meralco’s most celebrated milestones in the field of communications— steering the company to five-time Company of the Year honors at the Philippine Quill Awards and leading the only PR team ever named Team of the Year in the history of the Anvil Awards.
Manong Joe’s leadership also extends as a respected member of the Board of Trustees for the Public Relations Society of the Philippines (PRSP), concurrent with his role as Chairman of the International Association of Business Communicators Philippines (IABC Philippines) where he also served as its President.
Manong Joe is a distinguished awardee of the medallion of honor and scroll of commendation from the University of Manila, owing to his years in public service as a communications professional. He shares his insights through columns in renowned publications, including The Philippine Star’s The Z Factor, and Philippine News Agency’s ESPRESSO MORNINGS.
The ongoing conflict in the Middle East has induced significant global economic stress—driving up energy prices, disrupting supply chains, and risking global agriculture output—leaving governments scrambling to respond in ways that are not only swift but also sustainable.
Here in the Philippines, the ripple effects of the conflict are already felt largely by households with headline inflation surging to 4.1 percent in March 2026, up from 2.4 percent in February. According to the Philippine Statistics Authority, this was driven primarily by a 9.9 percent spike in transport costs due to oil price shocks and higher food prices.
In the wake of heightened global political tensions and uncertainty, the country’s growth outlook has also dimmed, with the Asian Development Bank trimming its Philippine economic growth forecast to 4.4 percent in 2026—a downgrade from the 5.3 percent growth outlook last December.
In moments of economic strain, countries are quite often faced with the dilemma of balancing urgent relief and ensuring long-term resilience. It’s no question that government should provide immediate assistance to sectors that are badly hit by the crisis but more of how they should do it so that help is sustainable and not merely a handout.
This means developing an airtight system for targeted relief and assistance to empower sectors badly hit by the crisis not just to cope, but recover as well.
Murang Kuryente Party-list Rep. Arthur Yap has recommended the use of the Maharlika Investment Fund (MIF) as a commercial tail-risk structure that allows banks to lend to farmers at scale. This makes sense especially since the fund has identified agriculture as one of its strategic pillars for public investment direction this year in support of government efforts to help ensure the country’s food security.
When farmers have reliable access to affordable credit, they are empowered to plant on time, scale up production and invest in better inputs. Improving rural financing can boost supply, raise farm incomes and support more stable food prices.
According to Yap, the Maharlika Fund can act as a credit-enhancement tool and a reliable risk shield so that farmers can have wider access to credit and continue to grow crops despite global uncertainty.
On the side of electricity consumers, Yap has proposed using the current electricity billing system as a channel for distributing aid or ayuda. The proposal to target families consuming between 51 and 300 kWh each month reflects a practical way of reaching those most affected by inflationary pressures without overlapping with lifeline beneficiaries already covered by subsidies, since average households usually consume around 200 kWh of electricity per month.
Lifeline rate beneficiaries with 0 to 50 kWh of power consumption per month already benefit from 100 percent discount. Many families just above this threshold are most exposed to rising prices. Aid delivered through bills would be visible, predictable and less prone to duplication.
As Rep. Yap said: “The point is to use the systems government already has. Use the electric bill to deliver fast and visible ayuda. Use Maharlika to create the risk structure that allows private capital to fund agriculture at scale.”
Of course, airtight guardrails are necessary to ensure that the system does not end up as a subsidy mechanism. Transparent reporting and clear limitations are necessary for disciplined implementation and to avoid corruption.
The country cannot afford another cycle of reactive handouts without implementing structural reform. We must recognize that providing relief and building long-term resilience can go together so that our country not only weather this crisis but also grow from it.
