MANILA, Philippines -- The Senate will give "utmost priority" to the request of President Ferdinand Marcos Jr. for emergency powers to reduce excise tax on petroleum products amid the war in the Middle East, Sen. Panfilo Lacson said.
Lacson on Monday said only those who did not want to help "alleviate the suffering of ordinary Filipinos brought about by the uncontrolled increase in the prices of oil in the aftermath of the raging Iran war would refuse to grant such emergency power."
"In fact, the Senate is giving utmost priority to tackle the measure toward this end," the Senate president pro tempore said in a statement.
Senate President Vicente Sotto III said that since this weekend, they were "in constant coordination with the office of the Executive Secretary regarding the bills needed to suspend the implementation of excise tax on fuel and the bill allowing the importation of biofuel to address the effects of the surge in fuel prices."
Senators Bam Aquino and Joel Villanueva last week filed separate bills which authorized the President to suspend or reduce excise tax on gasoline and diesel if its average prices reach or exceed $80 per barrel based on the Mean of Platts Singapore.
Aquino filed Senate Bill (SB) 1923 t o cushion Filipinos from the impact of sudden spikes in fuel prices.
Villanueva filed SB 1922 which mandated the Department of Energy to assess current market conditions to help the Department of Finance complete its recommendations to the President.
Aquino filed SB 1923 granting the President the authority to suspend the excise tax on petroleum products during national or global economic emergencies.
