MANILA, Philippines -- President Ferdinand Marcos Jr. on Wednesday said they were thoroughly and carefully studying whether or not a plebiscite for Charter change and the midterm elections would be done separately, taking into account the huge cost it would entail the government to hold them.

"We are really studying if we would separate the elections and the plebiscite, it would be like holding two elections. That would be very expensive," Marcos told reporters prior to his departure for Canberra where he is slated to address the Australian parliament on Thursday, February 29.

"So, maybe it would be possible if the plebiscite would be simultaneous with the elections in May next year. That would be a big thing, a big savings for us. We are thoroughly studying it," he added.

The House of Representatives said it was looking to hold the plebiscite in July. The Chief Executive, however, reminded lawmakers to assess.

"It doesn't mean that once the House or Senate is done (deliberating), there already must be a plebiscite. We can wait... A plebiscite is like an election. It's very hard to have a plebiscite before the election because this might hinder preparations for the elections. So, I think we have to take all these things into account," he said.

After the proposed people's initiative fizzled out due to criticisms and squabbling of both chambers of Congress, Senate President Miguel Zubiri previously bared that the President expressed preference for a plebiscite as an alternative to get the public's pulse regarding the push for amendments to economic provisions to the 1987 Constitution.