SOLONS WANT 10% HIKE IN OIL IMPORT DUTY FROZEN
President Duterte would help more than 50 million Filipinos covered by a lockdown all over Luzon due to the COVID-19 pandemic if he revokes Executive Order No. 113 that imposed a hefty 10% increase in the import duty on crude oil and refined petroleum products.
Bayan Muna Rep. Carlos Isagani Zarate and Bayan Muna chairman Neri Colmenares said in a statement on Monday, May 11, that “with the big oil price hike, the 10% increase in fuel tax under Executive Order 113, even if supposedly temporary, would have adverse effects on Filipinos, especially now that some areas are already in general community quarantine (GCQ) and more are to follow this week."
Signed only a week ago as the world suffered an oil glut and petroleum prices sinking, Zarate and Colmenares claimed EO 113 could not have come at a worst time as the oil industry is poised to raise its prices while millions of wage earners have not worked for the past two months.
By raising the import duty on crude oil, consumers will be burdened with higher oil prices, which also translate into increases in power and water rates and higher prices of basic commodities. #coronavirusimpact #COVID19PH