Amid runaway fuel prices, President-elect Ferdinand “Bongbong” Marcos Jr. prefers the prospect of giving fuel subsidies to the transport sector over the proposed suspension of fuel excise taxes.
Another fuel price hike took effect on Tuesday, June 21, which saw gasoline prices climb by P0.80 per liter, diesel prices by P3.10 per liter, and kerosene by P1.70 per liter.
Read more here: https://mb.com.ph/2022/06/20/diesel-prices-up-by-p3-10-liter-gasoline-by-p0-80-liter/
“I prefer to handle on the other hand of the equation and provide assistance to those who are in need. If you reduce excise taxes that does not necessarily help those who are most in need 'yung talagang tinatamaan kasi blanket e (those who are really affected since it is a blanket effect),” Marcos said during a Monday, June 20 press conference.
“So ang aking iniisip, kung sino ang talagang tinatamaan, example 'yung lumabas kaagad 'yung transport, 'yung nagpapasada, all of that, 'yung tinamaan kaagad ifocus muna natin on that (So what I’m thinking is that those who are really hit by the price hikes, the transport sector, drivers, all of that, they should be the ones we focus on),” he continued.
He added that fuel consumers who can afford to pay value added tax are not the focus of fuel subsidies; instead, he pointed to the industries and employees dependent on fuel prices.
“Yung mayroong may kaya (Those with the means), they can afford to pay even the VAT, those whose livelihoods are in danger or in danger of losing their livelihoods because of the increase of the oil, doon tayo dapat mag-focus (we should focus on them),” he concluded.