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Manila Bulletin devider Philippines devider National devider Peasant group calls for suspension of excise tax, VAT amid oil price hike

Peasant group calls for suspension of excise tax, VAT amid oil price hike

Published Mar 7, 2022 03:23 pm

Peasant group Kilusang Magbubukid ng Pilipinas (KMP), stood firm and reiterated that the national government “should take charge” and address the ongoing oil price hike in the country.

In a press release on Monday, March 7, KMP said that the government should “take an action” to control the price of oil and provide immediate economic relief and assistance to the affected Filipinos.

“Matagal nang hindi makaagapay ang mga magsasaka at mangingisda sa mataas na presyo ng langis. Malaki na ang naging epekto ng sunud-sunod na oil price hikes sa gastos sa produksyon at gastos sa pamumuhay ng mga magbubukid (Farmers and fishermen have long been unable to keep up with high oil prices. Successive oil price hikes have had a significant impact on production costs and the cost of living of farmers),” said KMP.

(Image courtesy of Kilusang Magbubukid ng Pilipinas)

The oil price hike, according to KMP, has a direct effect on farmers who are utilizing gasoline for agricultural machinery.

“Ang karaniwang makinang ginagamit ng mga magbubukid na hand tractor at thresher ay nangangailangan ng gasolina at langis. Bawat oil price hike ay may epekto sa gastos sa produksyon ng palay at iba pang produktong agrikultural (The common machine used by farmers – the hand tractor and thresher require fuel and oil. Every oil price hike has an impact on the cost of production of rice and other agricultural products),” it reiterated.

The peasant group likewise stated that the impact of rising oil price greatly affects small-scale fishermen, saying that oil and gasoline now make up up to 80 percent of their production costs.

Meanwhile, KMP has enumerated several action plans to address the ongoing problem.

The key points include the suspension of excise tax and value-added tax (VAT) in oil products, regulation of downstream oil industry, provision of adequate assistance such as fuel subsidy and fuel vouchers to the affected sector, distribution of cash aid, and the setting of price ceiling on basic and prime commodities.

Related Tags

Oil price Oil price hike Kilusang Magbubukid ng Pilipinas (KMP)
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