A REVIEW and even a possible suspension of excise tax and value-added tax on fuel and petroleum products will be on the table when Speaker Martin Romualdez sits in a consultative meeting today with the Department of Energy (DOE) and officials of oil companies.
The House leader said he invited industry players and energy officials to find a way to cushion the impact of the series of oil price increases on the public and the economy.
“We will try to find a win-win solution for our people and, of course, those in the oil industry,” Romualdez said in a statement released Sunday afternoon.
The meeting will be held at 3 p.m. at the Batasan Complex in Quezon City.
Other than the DOE and representatives from oil firms, members of the House Committee on Energy are also expected to attend the consultative dialogue.
Romualdez pointed out that the oil price hike is a global problem which has spurred an increase in the cost of food and other consumer commodities.
“We want to sit down with oil companies and discuss ways, hear suggestions on how we can alleviate the hardships of our fellow countrymen. We hope to find common grounds in areas that are within our control,” he said.
The Office of the Speaker said invitations have been extended to DOE undersecretary Sharon Garin, Mia Delos Reyes of Petron Corp., Timothy James Laurel of Pilipinas Shell Petroleum Corp., Tanya Samillano and Romina Antonio of the Independent Philippine Petroleum Companies Association (IPPCA), and representatives from Chevron Philippines, Inc., Philippine Institute of Petroleum (PIP), Flying V, and Total Philippines Corp.
From inputs of stakeholders during the meeting, Romualdez hopes to come up with an actionable plan to blunt the impact of fuel increases.
“On our part in the government, we can compromise… perhaps what we can initially offer is a possible review of excise tax or value-added tax on oil and petroleum products. This is a good place to start. One possibility to look at is suspending the collection of excise taxes or VAT,” he said.
The Speaker said he will submit a report to Malacañang with recommendations about the outcome of today’s discussions.
In the coming days, Romualdez bared he is also lining up talks with canned goods and basic food manufacturers, as well as the supermarket association to seek a compromise on the reported plan to raise consumer prices.
“We will attempt to convince them to at least postpone their plans, if there are any, until after Christmas in the spirit of the season. Masyadong mabigat sa bulsa ang sabay-sabay na pagtaas ng mga bilihin kasabay ng pagtaas ng presyo ng krudo (It is a burden on everyone to deal with the high cost of commodities and the continuous hike in gas prices),” he added.
