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SCRAP FUEL TAXES AMID RISING PRICES – PIMENTEL

Senator Koko Pimentel III sent his appeal to the incoming Marcos administration to identify and remove taxes and other fees in fuel transactions that can minimize the effects of surging prices of petroleum products.

Pimentel said removing the excise tax and other fees on fuel is an Executive action but the veteran legislator will file a bill to formalize his request.

Wala tayong indigenous source sa item na ‘yan. So, huwag na natin pang dagdagan ang presyo niya,” the veteran legislator said.

When asked about the revenues that the government will lose, the seasoned lawmaker explained the government should be open to belt-tightening measures.

“Alisin na yung mga tinatawag na vanity projects, ‘yung mga seminar na maraming ginagastos.”

Alisin na yung mga tinatawag na vanity projects, ‘yung mga seminar na maraming ginagastos, ‘yung mga masasabi natin hindi na essential. I-review lahat sa budget,” the senator added.

Reelected Senator Sherwin Gatchalian recently said he supports additional fuel subsidies for the transport sector instead of removing the excise tax on oil products.

Gatchalian explained increasing the subsidies is more efficient and economical but should be distributed in a timely manner.

“One tranche will cost you about P4 billion to P5 billion as removing the excise tax will cost us roughly around P200 billion.

“It’s more economical to give fuel subsidies provided they are given immediately.”

So, it’s more economical to give fuel subsidies provided they are given immediately,” the veteran legislator said.

However, if the oil crisis is prolonged, the seasoned lawmaker is open to discussing the plan to suspend excise tax or if necessary, the value-added tax for fuel.

Meanwhile, Pimentel said he is looking forward to working with Senators Alan Peter Cayetano, Pia Cayetano, Chiz Escudero, and Risa Hontiveros in the minority bloc of the 19th Congress.

Only Hontiveros and himself are certain to be members of the minority.

Wala pang nag-re-reach out. Kami pa lang ni Senator Risa kaya baka kami ang mag-re-reach out,” he said.

A former Senate President, Pimentel said he wants to be a part of the minority this time because “somebody has to check on the majority”.

He clarified that his choice to be with the minority has nothing to do with President-elect Ferdinand Marcos Jr.

“It’s just that it’s time to have a minority active, pro-active in checking the majority,” Pimentel said.

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