Gov’t vows to provide financial aid to poorest households 75 SHARES Share it! Share TweetBy Genalyn KabilingThe government has vowed to provide financial aid to the country’s poorest households amid the planned implementation of higher fuel excise taxes next year. “While the oil excise tax increase is a negligible contributor to inflation, we still commit to provide financial assistance to the 50% poorest households,” Panelo said. The President met with the Cabinet Tuesday to tackle the proposed the recommendation of the Development Budget Coordination Committee (DBCC) to push through with the fuel tax hike next year amid the global oil costs. “The current oil price has gone down to 53 to 52 dollars per barrel hence the legal requirement for the suspension of excise tax on fuel cannot be met,” he added.

Source: Manila Bulletin December 04, 2018 13:18 UTC