PROMDI presidential aspirant Sen. Manny Pacquiao urged President Duterte to immediately call for a special session of Congress to address the soaring prices of oil and petroleum products.
Pacquaio said Congress can legislate a law to suspend the collection of excise tax on petroleum products to bring down the cost of fuel or use the excise tax collections to provide direct subsidies for the public transport sector.
Another option is to suspend the excise tax and at the same time expand the use of the P7 billion service contracting budget allotted under the General Appropriations Act.
Pacquiao said the skyrocketing cost of fuel will cause ripple effects on the country’s economy and the government must step up to cushion its impact on ordinary Filipinos.
He said the government cannot simply suspend collection of the excise tax as this would still require legislation, whereas providing direct subsidy can be immediately implemented using funds collected from excise taxes.
Sen. Panfilo Lacson, who is also vying for president under Partido Reporma, said if Duterte calls for a special session of Congress, lawmakers must comply.
“Whether or not I will support the declaration of a state of economic emergency will depend on the proposal to be submitted by Malacañang,” he said.
Lacson earlier called for the immediate suspension of excise taxes on fuel products even on a temporary basis until such time that the international price of oil stabilizes to a manageable level.
He said this will provide the much-needed breathing space not just to motorists but also to virtually all sectors affected by the upward trend in fuel prices.
“The upward trajectory of fuel prices is expected to continue and the government must do something now to mitigate the impact of international oil prices on motorists, the public transport sector, fisherfolk and farmers who will bear the brunt of this burden if we do not act now,” Lacson said.