high inflation in the philippines

Sen. Bam: Nasaan ang liderato sa isyu ng BP, Bigas at Presyo?

Sen. Bam Aquino called on the government to immediately address the issue of high BP or “Bigas at Presyo”, which currently affects millions of Filipinos, especially the poor.

“Mahalagang mabigyan na ito ng lunas dahil malaking isyu po ang BP o bigas at presyo. Kapag masyadong mataas ang BP, nanganganib ang kabuhayan natin. Pababain na ang BP,” said Sen. Bam, one of four senators who voted against the ratification of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

“Ang hinahanap natin, lalo na sa isyu ng bigas, ay leadership. Seryosohin sana ng pamahalaan ang pahirap na ito sa mga Pilipino,” added Sen. Bam.

 Sen. Bam said the leadership of National Food Authority (NFA), led by administrator Jason Aquino, has failed to ensure enough supply of affordable rice for the poor in the last two years.

“Sino ba ang lider na sosolusyunan ito? Nagmumukhang hindi talaga kaya ng NFA administrator natin na resolbahin ang kasalukuyang problema,” added Sen. Bam.

“Hindi maayos ang pamamalakad sa importation at distribution.  Magsisimula ang solusyon sa pagpalit ng liderato. Maghanap tayo ng mga taong kayang gawin ang trabaho nila,” said Sen. Bam.

Also, Sen. Bam renewed his call for the passage of his Senate Bill No. 1798 or the Bawas Presyo Bill to help lower the prices of goods and services.

Sen. Bam’s measure aims to suspend the excise tax on fuel under the TRAIN Law when the average inflation rate surpasses the annual inflation target over a three-month period.

Vice President Leni Robredo backed the passage of the measure while members of the minority in the House — Miro Quimbo, Jorge “Bolet” Banal, Jose Christopher Belmonte, Gabriel Bordado Jr., Raul Daza, Jocelyn Limkaichong, and Josephine Ramirez-Sato — have filed their own version of the bill.

Sen. Bam underscored the importance of the measure’s passage, saying there is a second tranche of excise tax increase on petroleum products under the TRAIN Law in January 2019.

Sen. Bam: Food inflation up to 6.1%, suspend TRAIN now

Senator Bam Aquino warned that the continuing increase in the prices of goods will lead more Filipinos to hunger even as he renewed his call for the suspension of the government’s tax reform program.

Sen. Bam made this pronouncement as he noted that food inflation for June increased to 6.1 percent from 5.7 percent in May, based on data from the Philippine Statistics Authority (PSA).

“Lalong nalulunod sa taas-presyo ang taumbayan dahil sa totoo lang, mas nagmahal talaga ang pagkain nitong nakaraang buwan ayon sa sariling datos ng gobyerno,” said Sen. Bam, who has been consulting with families and communities on pressing issues, like rising prices.

“Sabi ng mga tindera ng isda na nakausap ko, matumal ang bili sa kanila kasi wala nang pera ang mga suki. Instant noodles at sardinas na lang ang mabili,” Sen. Bam added.

Sen. Bam said government data backs up the claim of many Filipinos that prices of goods and services have increased drastically since the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

 “Kung patuloy pong aakyat ang presyo ng pagkain, paano na kakain ng tatlong beses isang araw ang mahihirap nating kababayan?” added Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

Sen. Bam said the government should act now and suspend the TRAIN Law so as to alleviate the plight of poor Filipinos, who are already burdened by the government’s tax reform program.

“Gutom po ang dulot nitong TRAIN sa mga mahirap nating kababayan kaya kailangan na talaga isuspinde ito agad,” said Sen. Bam.

Sen. Bam has been pushing for the suspension and rollback of the excise tax on petroleum products under the TRAIN Law to help lower the prices of fuel and goods at the same time.

The senator has submitted a measure seeking to stop and rollback the excise tax on fuel when average inflation rate surpasses the annual inflation target over a three-month period.

Sen. Bam: Gov’t should be alarmed, protect poor from high inflation rate

Senator Bam Aquino contradicted government’s claim that the 5.2-percent inflation rate in June is not alarming, saying it should be concerned about the suffering of the Filipinos on the high prices of goods due to the Tax Reform for Acceleration and Inclusion (TRAIN) Law.   

“Dapat lang na mabahala ang gobyerno sa matinding taas presyo. Huwag natin ito maliitin dahil pinapahirapan nito ang ating mga kababayan,” said Sen. Bam, in reaction to Malacanang’s statement that the current inflation rate is not something to worry about

“Hanggang nalulunod sa taas presyo ang mga kababayan natin, hindi magiging epektibo ang mga programa kontra-kahirapan,” added Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

Sen. Bam hopes that the President will address the issue of the TRAIN Law in his State of the Nation Address (SONA) and focus on anti-poverty measures to help ease the burden of Filipinos, especially the poor.

“Umaasa tayong pagtutuunan ng Pangulo sa kanyang pangalawang SONA ang pagsugpo sa kahirapan para tulungan ang ating mga kababayan na maitawid ang pangangailangan araw-araw at makaahon,” Sen. Bam pointed out.

“Para maging matagumpay ang pagsugpo sa kahirapan, kailangan magsimula sa pagsugpo ng taas presyo sa pamamagitan ng pagsuspinde sa TRAIN,” he added.

Sen. Bam has been pushing for the suspension of the excise tax on petroleum products under the TRAIN Law as it could help lower prices of goods and services. 

The senator has submitted a bill seeking to suspend and roll back the excise tax on fuel under the TRAIN Law once average inflation rate surpasses the annual inflation target over a three-month period. 

In addition, Sen. Bam is pushing for the full implementation of mitigating measures under the TRAIN Law, such as the unconditional cash transfer program for poor families and the Pantawid Pasada for jeepney operators and drivers.

Sen. Bam repeats call for immediate financial assistance for Filipinos amid rapid rise in prices

Alarmed by the rapid increase in prices of goods and services due to the Tax Reform Acceleration and Inclusion (TRAIN) Law, Sen. Bam Aquino renewed his push for the immediate implementation of financial assistance to poor Filipinos. 

“This is the reason I keep pushing for the immediate implementation of financial assistance. Alam na namin ang kahihinatnan ng tax reform ng nagbotohan, kaya ako kumontra sa TRAIN,” said Sen. Bam.

 Sen. Bam’s pronouncement came after the country’s inflation rate reached four percent, the highest in four years, due to the effects of the TRAIN Law. 

Republic Act No. 10963 mandates financial assistance to 10 million poor Filipinos to counter the expected increase in prices of goods. In 2018, they will receive P200 monthly followed by a P300 monthly cash subsidy in 2019 and 2010.   

 During the measure’s period of amendments in the Senate, Sen. Bam pushed for the immediate implementation of the financial assistance program to help poor Filipinos absorb the expected increase in the prices of goods and services. However, Sen. Bam’s proposal was not accepted.  

 “The government is failing the Filipino people, especially the impoverished. We must implement a sufficient financial assistance program immediately to cushion the blow of TRAIN and the price increases,” Sen. Bam said.   

 Recently, Sen. Bam filed Senate Resolution No. 597, urging the appropriate Senate committee to scrutinize the implementation of the unconditional cash transfer to ensure that it is sufficient to cover the increase in prices of goods and other services. 

 Sen. Bam is also calling on the National Economic Development Authority (NEDA) to check if household incomes are enough to absorb these rising costs. 

“Gusto rin natin alamin kung sapat na ang 200 pesos kada buwan na cash transfer, lalo na ngayong tumataas na rin ang presyo ng kuryente at bigas,” said Sen. Bam.   

Sen. Bam is the former chairman of the Senate Committee on Trade, Commerce and Entrepreneurship and passed several measures to provide livelihood by supporting small, local businesses in the country. He is also the principal sponsor of the free college law passed last year.  

Sen. Bam voted no to the ratification of the Tax Reform Acceleration and Inclusion (TRAIN) Law.

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