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Manila Bulletin devider Philippines devider Monsour Del Rosario: Oil tax breaks to cushion impact of price hikes

Monsour Del Rosario: Oil tax breaks to cushion impact of price hikes

Published Mar 8, 2022 08:03 am

Senatorial candidate Monsour Del Rosario said on Tuesday the government should implement a tax break on oil products to cushion the impact of the price hikes caused by the global crisis in light of the conflict between Russia and Ukraine.

Del Rosario, who is part of the senatorial slate, of Partido Reporma presidential candidate Sen. Panfilo “Ping” Lacson and vice presidential aspirant Sen. Vicente Sotto III, lamented that the Philippines has always been at the losing end of any global crisis that marked significant effects on the price of oil.

Even before the conflict in Russia and Ukraine or the COVID-19 pandemic happened, the former Makati representative noted that the prices of basic commodities like fares for public transportation, food, and others have been going up remarkably and affecting consumers.

“This is a recurring problem but nothing seems to have been done to solve it. I say enough is enough,” Del Rosario said in a statement.

“It's high time that our government acts on this immediately and implement a tax break on oil to curb the effects of its rising prices globally,” he said.

“I believe this will help cushion the blow on our kababayans who are struggling to cope with the situation,” he stressed.

Likewise, the former lawmaker said the should start to seriously commit to looking for alternative resources of oil and energy that would make the Philippines less dependent on imported oil.

“The world is changing fast and we cannot just sit and wait for the next pandemic or another global crisis to happen. We need to act fast and we need to act now,” he emphasized.

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