Pantawid Pasada Program touted as 'economically viable' vs fuel excise tax suspension

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Senator Sherwin Gatchalian believes that having an integrated version of the Pantawid Pasada Program is more practical compared to the suspension of fuel excise taxes, as the country experiences continuous hikes in oil prices. 

The STAR / Boy Santos, File photo

 

MANILA, Philippines — Sen. Sherwin Gatchalian, who chairs his chamber's energy committee, said having an integrated version of the Pantawid Pasada Program for operators of public utility vehicles (PUVs) is more practical compared to the suspension of fuel excise taxes, amid the continuous hikes in oil prices. 

 

Estimates from his office showed that the Pantawid Pasada will only cost the government P1.94 billion if it offers fuel cards to all PUVs. Meanwhile, suspending fuel excise taxes will incur foregone revenues of P271.24 billion.

 

In a statement on Wednesday, the lawmaker said having an institutionalized Pantawid Pasada is more "economically viable as against the idea of suspension of excise taxes on fuel which Finance department has described to be inequitable and detrimental to the country’s economic recovery and long-term growth."

 

Full Story: https://www.philstar.com/headlines/2022/02/23/2162835/pantawid-pasada-program-touted-economically-viable-vs-fuel-excise-tax-suspension

 

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