Oil tax breaks to cushion impact of price hikes – Manila Bulletin

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

Senate candidate Monsour Del Rosario said on Tuesday that the government should implement tax relief on petroleum products to cushion the impact of price hikes caused by the global crisis in light of the conflict between Russia and Ukraine.

Del Rosario, who is on the Senate slate, Partido Reporma presidential candidate Senator Panfilo “Ping” Lacson, and vice-presidential aspirant Senator Vicente Sotto III, lamented that the Philippines have always been the losers of any global crisis that has 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 public transport fares, food and the like had risen. remarkably and affected consumers.

“It’s 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 is high time that our government acted immediately and implemented tax relief on oil to limit the effects of rising oil prices globally,” he said.

“I think this will help cushion the blow to our Kababayans who are struggling to cope,” he said.

Likewise, the former lawmaker said he should start seriously engaging in seeking alternative oil and energy resources that would make the Philippines less dependent on imported oil.

“The world is changing rapidly and we cannot just wait for the next pandemic or another global crisis to occur. We must act quickly and we must act now,” he stressed.

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