Pres. Duterte Speaks on Calls for Fuel Excise Tax Suspension amid the Oil Price Hike
DUTERTE – Philippine President Rodrigo Roa Duterte revealed his decision on calls for the suspension of the fuel excise tax.
A lot of Filipinos now are having a hard time coping with the series of oil price increases since January. The prices of fuel go an upward trend with at least a weekly movement since the first month of the year. Both public utility vehicle (PUV) drivers and private vehicle owners are greatly affected by the oil price hikes.
A lot of PUV drivers are appealing for assistance or ways that could help them amid the oil price hikes. Many of them claim that they can hardly bring home an amount that can suffice the needs of their families. Some are calling for the increase of the minimum fare.
The national government responded to the call of the PUV drivers. Fuel subsidies will be released amid the oil price hikes.
Several businesses are also greatly affected by the oil price increases. Previously, the authorities warned that the oil price hikes may continue until the month of May or June. There are also forecasts that the ongoing war between Ukraine and Russia may trigger an increase in the prices of oil.
Amid the series of oil price hikes, there are calls for the suspension of the fuel excise tax in the Philippines. Recently, President Rodrigo Roa Duterte spoke and revealed his decision on the said call.
Based on a report on ABS-CBN News, Pres. Rodrigo Roa Duterte rejected the call for the suspension of the fuel excise tax heeding the advice that the suspension could result in losses in government revenues of up to Php 106 billion. Instead, the national government is offering a Php 200 monthly subsidy for 12 million poor families in the country. Currently, the guidelines to be set by the Department of Budget and Management (DBM) are awaited.
Malacañang clarified that not everyone will be given financial aid. The top priority are those belonging to the most vulnerable sector and the minimum wage earners.
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