inflation in the Philippines

Sen. Bam: ‘Wag paikutin ang taumbayan sa pahamak ng TRAIN Law

Sen. Bam Aquino disputed the government’s pronouncement that there will be no jobs lost if the second package of the Tax Reform for Acceleration and Inclusion (TRAIN) will be enacted into law.

“Sa TRAIN 1, sinabi ng gobyerno na hindi ito makaaapekto sa pagtaas ng presyo. Ngayong TRAIN 2, sinasabi nilang walang mawawalang trabaho ang mawawala. May maniniwala pa ba sa kanila?,” Sen. Bam asked

“Huwag na po niyong paikutin ang taumbayan. Nalulunod na nga sa taas presyo dahil sa TRAIN 1, lolokohin nyo pa pagdating dito sa TRAIN 2,” added Sen. Bam, one of four senators who voted against the ratification of the first TRAIN Law package. 

Sen. Bam also doubted the government’s capacity to deliver on time the financial package proposed in the House version for workers who might be displaced once TRAIN 2 is enacted into law. 

“Malapit nang matapos ang 2018 pero hanggang ngayon, hindi pa rin nila naibibigay ang pangakong tulong sa ilalim ng TRAIN 1 habang nalulunod na sa taas ng presyo ng bilihin ang mahihirap na Pilipino,” said Sen. Bam, referring to the unconditional cash transfer program and the Pantawid Pasada Program.

In a separate interview in San Fernando, Pampanga, Sen. Bam said locators in the Clark Freeport Zone might be forced to close shops and move to other countries if TRAIN 2 is enacted into law, which will lead to loss of jobs for thousands of Filipinos.

“Marami sa industry associations ang nagsabi na kapag natuloy ang TRAIN 2, aalis sila at lilipat sa Indonesia, Thailand at Vietnam. Mahalaga ang trabaho ng bawat Pilipino at kailangan natin itong protektahan,” said Sen. Bam, who committed to fight provisions in TRAIN 2 that will affect the employment of thousands of Filipinos.

“Marami na ngang palpak ang TRAIN 1, itutulak pa rin ang TRAIN 2. Siguraduhin na muna nating napag-aralan na talaga ang epekto ng mga panukalang ito kundi baka mayroon nanamang masasagasaang mahihirap na Pilipino,” said Sen. Bam.

Sen. Bam emphasized that the government should first address the problems caused by TRAIN 1, like its effects on inflation and prices of goods, before pushing for TRAIN 2.

Instead of insisting on the passage of TRAIN 2, Sen. Bam said the government should support his measure that aims to address the high prices of goods caused by TRAIN 1.

Sen. Bam has filed Senate Bill No. 1798 or the Bawas Presyo Bill, which seeks 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.

The senator is pushing for the passage of the measure since there is a scheduled second round of increase in excise tax on fuel under the TRAIN Law in January 2019.

Sen. Bam: Pahirap ang TRAIN Law, hindi perpekto

How can you call a law perfect if it burdens the poor?

This was Sen. Bam Aquino’s reaction to Budget Secretary Benjamin Diokno’s pronouncement that the Tax Reform for Acceleration and Inclusion (TRAIN) Law is a perfect law.

“Paano magiging perpekto ang batas na sumasagasa sa mahihirap na Pilipino?” asked Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

“Konting malasakit naman po para sa mahihirap,” Sen. Bam stressed, adding that the government should not ignore the suffering of Filipinos, especially the poor, from high prices of goods.

“Huwag naman ninyong maliitin ang paghihirap ng mga kababayan nating nalulunod sa taas presyo,” said Sen. Bam.

“Tinitiyak ko po sa inyo totoong mabigat ang pinapasan ng taumbayan dahil sa taas presyo na dulot ng TRAIN,” the senator added.

Sen. Bam renewed his call to the President to listen to the cry of Filipinos, who are already burdened by the high prices of goods due to the government’s tax reform program.

“Sana lang marinig ng Pangulo ang hinaing ng mga pamilyang pilipinong nalulunod na sa taas presyo,” said Sen. Bam, adding that he expects the Chief Executive to address the issue during his State of the Nation Address (SONA).

Earlier, Sen. Bam said the government should join hands with the legislative in finding ways to solve the problem to alleviate the plight of Filipinos.

As part of his effort to alleviate the suffering of the Filipinos, Sen. Bam has filed a measure 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.

Sen. Bam also 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: President should address high prices, support TRAIN suspension during SONA

With the country’s inflation rate breaching the 5-percent mark in June, Senator Bam Aquino is hoping President Duterte would announce the suspension of the Tax Reform for Acceleration and Inclusion (TRAIN) Law in his State of the Nation Address (SONA).

“Hindi na makatarungan ang pagpataw ng excise tax sa petrolyo habang pataas ng pataas ang presyo nito sa merkado. Nalulunod na ang taumbayan sa pagtaas ng presyo ng bilihin,” said Sen. Bam.

The Philippine Statistics Authority (PSA) announced on Thursday that inflation rate reached 5.2 percent in June, the fastest level in at least five years.

On Tuesday, oil companies raised their pump prices by P0.65 per liter for gasoline, P0.55 for diesel and P0.70 for kerosene. Starting this month, the electric bill of Manila Electric Company consumers will reflect a higher generation charge due to tight power supply and the further weakening of the peso.

 “Ito ang numero unong alalahanin ng mga pamilya kaya sana talakayin ito ng Pangulo sa kanyang SONA. Tugunan natin ang pangangailangan ng Pilipino. I-roll-back at suspindihin na ang excise tax ng TRAIN,” added Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

During his dialogue with different sectors, Sen. Bam said he has received many grumblings about the high prices of goods and services and the lack of necessary support from the government.

Sen. Bam insisted that the suspension and rollback of the excise tax on fuel under the TRAIN Law should provide welcome relief for Filipinos who are burdened by high prices of goods and services.

“Sana marinig ng Pangulo ang hinaing ng taumbayan,” said Sen. Bam.

Sen. Bam 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.  

Also, 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 to admin: Listen to Filipino people, review TRAIN law

Senator Bam Aquino urged the government to listen to the Filipino people in light of the latest Pulse Asia survey showing pay hikes and increase in prices as major concerns of the public.

 “Pakinggan natin ang hinaing ng mga Pilipinong nabibigatan sa mataas na presyo ng bilihin at hindi sapat na kita,” said Sen. Bam, who has visited a number of local communities to hear out their concerns on the rising prices of goods.

The survey conducted by Pulse Asia from March 23 to 28 showed that 50 percent of the respondents mentioned salary increase as the most urgent issue while 45 percent pointed to inflation.

“Sa pagtaas ng presyo ng bilihin, sapat ba ang 200 pesos per month na cash transfer ng gobyerno? Panahon na para suriin ang totoong epekto ng TRAIN law at siguraduhing hindi pinapahirap ng gobyerno ang buhay ng mga Pilipino,” Sen. Bam stressed.

 With this development, Sen. Bam reiterated his call to review Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Act as it contributes to the increase in prices of goods and services that burdens Filipinos, especially the poor.

Recently, Sen. Bam filed Senate Resolution No. 704, urging the appropriate Senate Committees to conduct an inquiry on the TRAIN’s inflationary impact and effect on the economy, particularly the P7 and P2.50 excise tax increase on gasoline and diesel, respectively.

Sen. Bam also 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.

In his resolution, Sen. Bam said the Department of Finance assured lawmakers that TRAIN’s impact on inflation would not be more than 0.7 percent.

However, latest data from the Philippine Statistics Authority (PSA) showed that the country’s inflation rate for March hit 4.3 percent.

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