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FUEL COSTS SOLUTION * Philippines - Villar backs public transport subsidies amid oil crisis
Senate President Manuel Villar asked the government to subsidize transportation costs
Manila,Philippines -The Philippine Daily Inquirer, by Dona Pazzibugan -26 May 2008: -- Senate President Manuel Villar has joined calls for government to ease the impact of skyrocketing prices of petroleum products by subsidizing transportation costs... Instead of calling for a suspension of the 12 per cent value added tax (VAT) imposed on petroleum products, Villar asked the government to subsidize transportation costs by making use of proceeds from the expanded value-added tax... He said the government could afford to give such a subsidy since it stood to earn in 2008 an additional P18 billion from VAT due to the surge in oil prices in the world market... Oil firms have announced they would increase their pump prices weekly to recover their losses... (Video from YouTube, by PogimonXp - January 27, 2008: "Truck Moving Backwards! No Camera Tricks" - Truck Moving Backwards! No Camera Tricks captured at Carmenville Angeles City Philippines)
Labels: fuel cost solutions
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