While the Sugar Regulatory Administration (SRA) must monitor and maintain sugar prices, the government must ensure that financial assistance and other mitigating measures under the tax reform program are rolled out immediately, Sen. Bam Aquino pointed out.
Sen. Bam said increase in price of sugar will also result in rise in prices of flour, bread and other sweetened products that are essential commodities to families.
“Wala na ngang ihihigpit ang sinturon ng mga mahihirap na Pilipino dahil sa TRAIN Law, lalo pa silang mahihirapan kung tataas ang presyo ng asukal,” said Sen. Bam, one of four senators who voted against the ratification of the government’s tax reform program.
“Kailangan na nila ng salbabida kundi tuluyan na silang malulunod sa mataas na presyo ng bilihin,” added Sen. Bam.
Sen. Bam renewed his call to the administration to support his measure that seeks to suspend and roll back the excise tax on petroleum products under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Under Sen. Bam’s measure, the excise tax on fuel under the TRAIN Law will be rolled back when average inflation rate surpasses the annual inflation target over a three-month period.
Also, Sen. Bam said the government should fast track 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.