PBBM to ask Congress for emergency powers to cut fuel excise tax
PBBM to ask Congress for emergency powers to cut fuel excise tax
PBBM to request Congress’s approval for fuel tax cut
A fuel crisis looms as tensions in the Middle East directly impact the Philippines. To mitigate its effects, President Ferdinand “Bongbong” Marcos, Jr., announced that he will formally seek Congress’s approval for emergency powers to reduce the excise tax on petroleum products.
In a recent interview, Palace Press Officer Usec. Atty. Claire Castro said the Department of Energy (DOE) will submit a formal request to Congress on behalf of President Ferdinand “Bongbong” Marcos, Jr.
“Nakikipag-ugnayan po sila. At ang panawagan po nila ay gagawin itong Lunes na ito,” said Castro.
(They are coordinating, and their request will be submitted this coming Monday.)
The proposed excise tax reduction would be temporary and subject to congressional approval. According to a report by the Philippine News Agency (PNA), the President is also seeking amendments to the Biofuels Act of 2006 to allow the use of cheaper bioethanol fuels, aiming to ease the impact of rising oil prices, as the country relies heavily on imported Middle Eastern oil.
Earlier, the President said the Philippines has a healthy fuel stockpile that could last about 50 days.
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