Thank you, Mr. President. Not only did you suspend the excise tax on kerosene and LPG (or cooking gas) this week, but you also gave working Filipinos a grace period to settle their taxes.

The extension of the 2025 annual income tax return (ITR) filing deadline from April 15 to May 15 surely does more than buy time. Effectively, it lowers the cost of compliance since the ITR is a full-year accounting of income, deductions, and the final tax due or refundable.

By moving the deadline, the government effectively removes a month’s worth of potential penalties and surcharges for late or incomplete filings, giving taxpayers room to gather documents and file accurately through the Bureau of Internal Revenue (BIR)’s electronic channels or authorized banks.

In a time when fuel prices have surged, transport fares are biting deeper into daily wages, and even basic goods are inching up on the back of a 4.1% inflation rate, leaving families to stretch every peso from fare to food, that matters.

And so, the suspension of excise on liquefied petroleum gas and kerosene is another wise targeted price intervention. Excise is a fixed tax layered onto fuel; take it out and retail prices can ease almost immediately for households that cook with LPG or rely on kerosene.

To critics who have been trying to block the suspension of the oil tax — yes, it doesn’t resolve broader fuel inflation, but it offers quick, direct relief where it is most felt: in the kitchen and at home.

The excise remains intact for diesel and gasoline. That’s why prices remain sky-high despite a significant rollback last Tuesday — the first one since the global supply shock we’re struggling with since the US-Israel war with Iran broke out and spread chaos and tension across oil-producing Arab states.

I heard somewhere it took a lot of high-pitched face-to-face scowling from a work-from-home Cabinet member to bamboozle oil company executives into ensuring a big-time rollback was in place this week.

And for those social media know-it-all posers who have spent the past week manufacturing Stage 4 illnesses and calling real journalists “bayaran” — here’s an antidote to your tall tales. Not only is Bongbong Marcos doing jumping jacks in the street and at his own live press conference, but he’s made two of the best decisions he’s ever made during a crisis this week.

Sorry to those who wish him dead and speculate he is a “dead man walking, but these two decisions — moving the tax filing deadline and suspending the excise on critical oil products — are hard evidence that the President is alive, working, and governing.

Contrast that with the political theater we have seen elsewhere: public officials delivering rambling or “meow-ing” in the middle of disjointed statements that raise more questions than answers; others disappearing from public view when they’re paid to attend Congress; still others turning governance into spectacle, mistaking volume for substance. It says something about our discourse when proof of life becomes a rebuttal to propaganda.

But here we are. Two concrete measures, one clear message: the President is not only present — he is, by all visible accounts, in good health and sound in body and mind.

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SHORT BURSTS. For comments or reactions, email firingline@ymail.com or tweet @Side_View via X app (formerly Twitter). Read current and past issues of this column at https://www.thephilbiznews.com

This is the central message of The Economic Impact of the Agri-Food Sector in the Philippines, a new report by Oxford Economics, the ASEAN Food and Beverage Alliance, and Food Industry Asia, launched in Makati on February 5.

A pillar of the economy

The numbers underscore why the stakes are high. The agri-food sector contributes about US$164.6 billion, or roughly one-third of national GDP, and supports 18.8 million jobs, accounting for 38% of total employment. Beyond output and jobs, it anchors food security and inclusive growth, particularly in rural areas.

But the report warns that the operating environment is tightening. Climate risks, trade frictions, and higher tariffs—particularly from the United States—are raising costs and uncertainty for producers and exporters.

Trade risks and inflation pressures

James Lambert, director at Oxford Economics, said Philippine agri-businesses are especially exposed as the US accounts for about 20% of total agri-food exports. An additional 19% tariff could cut US agri-food imports from the Philippines by around 25%, dealing a significant blow to exporters.

Food price inflation is another looming risk. As a net food-importing economy and one of ASEAN’s most climate-vulnerable countries, the Philippines faces compounded pressures from global commodity price volatility and extreme weather disruptions.

In a worst-case global scenario, escalating tariffs could leave global GDP 2.3% below baseline over five years, further amplifying external shocks felt by domestic food systems.

Turning turbulence into advantage

Despite the headwinds, the report argues that the Philippines can “turn turbulence into an advantage” through a proactive, coordinated strategy.

At the core is trade diversification. The ability to scale production and compete with established players is key for local agri-businesses to benefit from short-term trade-diversion dynamics, Lambert said.

To address these risks, the report calls for a focused reform and investment push, starting with upgrading export infrastructure and strengthening food safety and logistics systems such as cold-chain storage, inter-island shipping, and integrated logistics hubs to cut losses and improve reliability for perishable goods. It also urges expanded access to finance, certification, and standards compliance to help MSMEs and small producers enter higher-value export markets, alongside trade facilitation reforms to reduce the cost and complexity of exporting through more efficient customs procedures and predictable food regulations. The agenda includes accelerating investments in resilience-building infrastructure—port upgrades, farm-to-market roads, transport connectivity, renewable energy expansion, and improved grid efficiency—to ensure stable and affordable power for agri-processors. Restoring investor confidence through business-friendly reforms is highlighted as critical to signaling long-term policy commitment, while deeper regional integration is seen as a growth lever, with RCEP participation alone projected to raise Philippine exports by 5.1% and GDP by 3.4% by 2035. The report adds that transparent and consistent trade and investment policies are essential to sustaining investor trust and integrating Philippine producers into global value chains.

A moment for strategic action

The message from the report is clear: risks to the agri-food sector are real and rising, but so is the opportunity.

With continued emphasis on trade openness, infrastructure investment, and institutional capacity, the Philippine agri-food sector can maintain its resilience and reinforce its role as a catalyst for inclusive economic growth.

For policymakers and industry leaders, the challenge now is execution—moving from awareness to a coherent, long-term strategic plan that secures food security, protects livelihoods, and positions Philippine agriculture to compete in an increasingly volatile global market.

According to the survey conducted from September 24 to 30, 2025, 56% of respondents said reducing the prices of rice and other food products should be the government’s top priority. Coming in second, 31% urged the administration to address corruption — underscoring the public’s demand for both economic relief and good governance.

The poll, which covered 1,500 respondents nationwide with a ±3% margin of error, found that concern over rising food prices cuts across regions, particularly in the Visayas (61%) and Mindanao (61%). More Filipinos in rural areas (57%) than in urban centers (54%) expressed concern over food affordability, reflecting how inflation continues to hurt lower-income households the most.

Meanwhile, corruption ranked second among Filipinos’ top concerns, with the highest share of responses from Metro Manila (45%), followed by Balance Luzon (32%) and the Visayas (31%)—indicating a widespread clamor for transparency and accountability in government spending.

“This survey highlights the urgent reality that Filipinos are still struggling to afford basic food,” said Prof. Victor Andres ‘Dindo’ Manhit, President of the Stratbase Group. “The more they cannot afford essentials like rice, the more they demand concrete reforms against corruption—issues that the President himself has repeatedly raised before the public.”

Manhit stressed that Filipinos are sending a clear message: address inflation and food insecurity while ensuring transparency and accountability in government spending.

“Filipinos demand that their hard-earned taxes be put to good use—allocated to the right projects, funding essential services, and making a real difference in their lives and those of their families,” he added.

Other issues cited by respondents include education (7%) and healthcare (4%), while 3% said they were undecided.

Manhit emphasized that the findings reflect a growing public demand for responsive and ethical leadership.

“This is an opportunity for the administration to recalibrate its priorities,” he said. “Filipinos want policies that directly ease the burden of high living costs while implementing reforms to eliminate corruption.”