MANILA, Philippines – Malacañang is looking into all proposals that can help alleviate the impact of oil price increases brought about by the continuing tensions in the Middle East.
“We do not want to burden our citizens so we are considering everything that can alleviate the burden on the people,” presidential spokesman Edwin Lacierda said in a press briefing in Malacañang.
The energy, finance and budget departments are studying proposals that include the proposal of Sen. Ralph Recto for government to either reduce the value-added tax (VAT) on oil products or subsidize a fuel price rollback for public utility vehicles to help cushion the effect of recent fuel price hikes.
Also being studied by the three concerned departments, according to Lacierda, is the proposal of the House of Representatives to amend or repeal the Downstream Oil Industry Deregulation Act of 1998.
Lacierda said Energy Undersecretary Jay Layug would meet with Recto next week to discuss the latter’s proposal.
Layug would also discuss the matter with the officials of the three departments tasked to study the issue.
“We are certain that the relevant agencies are discussing what will be the best course of action to take,” he stressed, adding that to spend the VAT on oil would require legislative enactment.
Presidential Communications Development and Strategic Planning Office Secretary Ricky Carandang, on the other hand, said the Palace would await the recommendations of the three departments.