Market Watch | Oil prices up again this week
For the 22nd time this year, the price of diesel will again go up this week with oil firms announcing a price hike of PHP 0.60 per liter.
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For the 22nd time this year, the price of diesel will again go up this week with oil firms announcing a price hike of PHP 0.60 per liter.
With practically all House members – except Duterte’s son and a few die-hard Duterte lawmakers – co-authoring the measure, Bayanihan 3 brags the unprecedented and massive support of different lawmakers who crossed party lines. The political reasons are obvious, but on one hand, such a move in the House sans Palace nod says a lot about Duterte’s deliberate neglect of calls for cash aid.
"We won’t be fooled by the pretext that reopening our natural resources to large-scale mining would help revive the pandemic-battered economy as it would inflict serious damage than repair."
“Why would the government launch a National Food Security Summit, if it will only rely on imports instead of boosting local production? The summit should be boycotted because it is organized by those who instigated the food crisis and those who did not address the legitimate demands of rice farmers and food producers.”
Where will the Bayanihan 3 go? Take a look.
Agroecology X, an alliance of local food producers and agricultural groups, pointed out the Department of Agriculture’s failure to address their problems, particularly the impacts of African swine fever and rice importation.
"These are dire times that require urgent action. The people need immediate relief," they said in a joint statement sent to the media.
More than half of Filipino households said that if they lose all of their income sources, their resources to cover daily needs could only last up to two weeks.
In a statement, Pamalakaya leader Ronnel Arambulo said a P15,000 ($300) subsidy will ensure farmers can “keep up with the increasing demand of fishery and marine products amid the economic crisis brought about by the pandemic.”
“Going deeper from our culture of Bayanihan, community pantries are sprouting because the masses are well aware of the inutility of the Duterte administration to provide socio-economic aid and medical solutions amidst this global pandemic.”
Macky said that a P50 haircut may provide them their lunch, but better governance through the unity of the people is the key to keep their business stay afloat.
The planned increase in pork imports to supposedly address the crisis brought by the African swine fever will bring death to the already dying industry, a farmers’ group said.
It can be guesstimated that the total additional profits generated by the oil firms from overpricing gasoline and diesel is about P142.50 million a day. Of this amount, P17.10 million went to government in the form of the 12 percent value-added tax (VAT).
Aside from the fact that the biggest chunk was not used specifically for the COVID-19 response, it is the taxpayers who will suffer the most in paying off these debts.
“Such huge debts but we never got even five kilos of rice. And we will be the ones to pay those debts through our taxes. My grand-grand children might end up paying for those.”
“We are in a very crucial time, and our pork producers are in such vulnerable state, if the DA and the Duterte regime rely too much on importation now to unreliably lower prices, millions of small hog raisers are bound to go bankrupt and close permanently. Only increased local production can sustainably lower pork prices."
Under EO No. 124, the price ceiling for a kilogram of pork liempo is at P300, a kilogram of pork kasim at P270, and a kilogram of dressed chicken at P160.
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