BAYAN MUNA: SECOND YEAR OF DUTERTE ADMIN MARKED BY SKYROCKETING INFLATION AND PRICES

Rep. Carlos Isagani Zarate

Bayan Muna Rep. Carlos Isagani Zarate today said that the 5.2% inflation rate for June announced by the Philippine Statistics Authority (PSA) is ” sorely expected and is even bound to soar higher as long the regressive TRAIN law is implemented.”

“It may even reach 6% before the year ends and the price shocks then would be more shocking. Sa ngayon lahat ay nagmahalan na halos lahat ng batayang bilihin at mga karaniwang mamanayan ang mas higit na nahihirapan,” said the progressive solon.

“The price of sugar,bread and rice have risen last week and a provisional fare hike for public utility jeeps may be implemented tomorrow. But this is just the beginning of our burdens because based on the TRAIN Law the excise tax of P2.50 a liter is imposed on diesel and bunker fuel starting January this year but this rate will go up to P4.50 in 2019 and P6 in 2020. This means that the excise tax on gasoline has already increased from P4.35 a liter to P7. It will go up to P9 in 2019 and P10 in 2020,” said Rep.Zarate.

“We witness how the people are still reeling from the effects of the P2.50 increase in oil excise tax, now imagine what the effects would be when the P4.00 and P6.00 excise tax is implemented. Baka wala na halos mabili ang mga consumers sa taas ng presyo ng bilihin,” said the Davao-based solon.

“We must also not forget that under the TRAIN law there is a P50/metric ton excise tax on coal in the first phase of the tax impositions for this year. That will go up to P100 per metric ton of coal next year; and to a higher P150 per metric ton in 2020. Of course, there are a lot of other tax impositions under the TRAIN law but the oil and coal tax are among the tax impositions that would have the biggest impact on consumer products and services,” he added.

“Kaya hindi uubra ang pagbago lang o paglalagay ng Suggested Retail Price (SRP) sa mga produkto dahil iikutan lang ito ng mga manufacturers at mga nagbebenta. Sa ganitong mga suhestiyon ay pumupostura lang sila na parang may ginagawa para sa mga consumers pero di naman din bumababa ang presyo ng bilihin,” added the solon.

“It is clear that unless the TRAIN Law is repealed we are in for bigger price shocks in the coming years. No amount of unconditional cash transfers or pantawid pasada can change the fact that the TRAIN Law is anti-poor and anti-people. We are again calling on the House leadership to expedite the hearings for House Bill 7653 to repeal the TRAIN Law and lighten the burden of Filipinos,” ended Rep. Zarate.###

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