Senator JV Ejercito is not yet about to “throw in the towel” in opposing the immediate implementation of the second wave of fuel excise tax increase, although it already took effect this month.
In a statement, Ejercito appealed to President Duterte to order his economic managers to stop temporarily the second tranche of increase.
“We only have to look back at our recent experience where prices of commodities skyrocketed when the first round of increase was imposed in order to realize that this course of action is a disaster to the people’s pockets,” he said.
Ejercito said that while the Philippines’ inflation rate slowed down a bit towards the end of 2018 mainly because the prices of petroleum in the world market dropped significantly, financial experts had predicted an upward trend of prices of commodities, mostly consumer goods, this year due to another increase of fuel excise tax.
“I believe we can afford a six-month suspension. After that, let’s assess the situation,” he said.
While he agrees that the government will get additional funds, which will be used for infrastructure projects, Ejercito cited the need to suspend the increase for the meantime, let’s say six months, because the prices of commodities are still high and still keep on increasing.”
