Bong Go urges gov’t to monitor market prices amid Israel-hamas conflict

Senator Christopher “Bong” Go on Sunday, November 5, called on the government to routinely monitor the market prices in light of the escalating Israel-hamas conflict as it has the potential to negatively impact global prices especially on oil and other well-known commodities.

Go specifically directed his call to the Department of Social Welfare and Development (DSWD) and the Department of Trade and Industry (DTI) who, he said, should enhance their efforts in providing aid and support to Filipinos who are struggling to make ends meet.

The senator said it was necessary for the government to implement interventions as soon as possible to mitigate the impact especially on the poor and vulnerable sectors.

“Global events have local consequences. We cannot afford to be passive spectators. The government has a moral and social obligation to protect the welfare of its citizens, particularly those who are most vulnerable,” Go said in a statement.

"By keeping a close eye on market prices, we can preemptively identify and address potential issues before they escalate into full-blown crises,” he stressed.

And with the ongoing war in Russia and Ukraine, the senator warned these global crises have created a volatile economic landscape that can have a direct impact locally, particularly agricultural products.

“During this time when we are facing many economic issues, including inflation, we need to unite and work immediately for the welfare of our people, especially those who need government intervention,” he said.

“That’s why, my appeal to the government, is to prioritize the needs of the poor. Each peso is very important to them,” he pointed out.

Aside from the DTI and DSWD, Go also urged the Department of Agriculture (DA) to implement measures that would help the country’s farmers overcome the economic challenges and become more productive.