Manila, April 13 -- Speaker Faustino "Bojie" Dy III on Monday outlined the first major intervention under the proposed KALINGA Act, positioning the measure as a fuel price stabilization shield as the House prepares for a new round of hearings this week after United States President Donald Trump announced that the U.S. would move to blockade the Strait of Hormuz.

Dy said developments affecting the Strait of Hormuz - one of the world's key oil shipping routes - highlight the need for the government to prepare policy tools that can cushion potential volatility in fuel prices.

Dy, together with House Majority Leader Ferdinand Alexander "Sandro" Marcos, filed House Bill No. 8834 establishing the KALINGA Program - Komprehensibong Alalay sa Li...