Duterte issues 3 marching orders to ease impact of oil price surge
Published May 26, 2018 02:23 pm
By Argyll Cyrus Geducos
President Duterte has issued three marching orders in a bid to cushion the impact of the increasing prices of oil products, Malacañang assured Saturday.
Presidential Spokesperson Harry Roque
(JOEY DALUMPINES/PRESIDENTIAL PHOTO / MANILA BULLETIN) “The President is not numb. Nobody wants the price of oil to increase like this so he gave three marching orders to his Cabinet secretaries,”Presidential spokesman Harry Roque Jr., speaking in Filipino, told radio DZMM Saturday. According to Roque, Duterte ordered the Department of Trade and Industry (DTI) to activate all its surveillance teams to strictly monitor the price of commodities and arrest those who go far beyond the suggested retail price. “The first order was for the DTI to monitor and arrest businessmen who violate the suggested retail price because there are many who take advantage of the situation,” he said. “The prices are already high but I think 70 percent of businessmen are taking advantage of the situation. There is a fine for that and their business may be closed,” he added. The President’s second orders was for the Department of Labor and Employment (DOLE) to find out if there is a need to increase the minimum wage, Roque said. “Secretary Silvestre Bello III said the regional wage board already met. They will see if there is a need to increase the minimum wage because if the prices of commodities are high, the salary needs to meet that,” he said. “But there is a process. This cannot be on a national scale because there is a law limiting the determination of wages to the regions,” he added. The Palace official also said that the third order was for the Department of Energy (DOE) to look for other countries where the Philippines can get cheaper oil. “The DOE is now looking for cheaper oil from non-OPEC members, including Russia,”Roque said. “We will do everything so we can import cheaper oil because not all oil producers are OPEC members,” he added. “We will also look into the possibility if we can get even just diesel because we can get that from Russia,” he continued. Roque had earlier appealed to the public, especially to traders, not to take advantage of the Tax Reform for Acceleration and Inclusion (TRAIN) law, especially following the increase in the price of oil in the world market. He said that it is unfortunate that some people are taking advantage of the TRAIN when there are a lot of people who benefit from it. “I appeal to the traders to unite with the rest of the country. Do not take advantage of the oil price hike as it will already affect the prices of commodities. Don't take advantage and increase it even more just so businessmen can profit more,” he said. Meanwhile, Senator Sherwin T. Gatchalian, chairman of the Senate Economic Affairs Committee, said President Duterteshould set his focus on policy reforms to improve the economy and its global competitiveness. Gatchalian stressed this after the Philippines took a big hit in the recently released rankings in the international arena. The Philippines landed at 50th spot in a ranking of 63 countries in the 2018 World Competitiveness Yearbook, a dip of nine notches from 2017 and the sharpest drop among Southeast Asian countries. The country's ranking worsened across all four indicators: economic performance (from 26th to 50th), government efficiency (from 37th to 44th), business efficiency (from 28th to 38th), and infrastructure (from 54th to 60th). “The slide in our country’s competitiveness should be a wake-up call for the government to pursue measures that will foster a more productive business environment for MSMEs and spur growth in key domestic industries with a lot of potential,” Gatchalian said. (With a report from Mario Casayuran)
Presidential Spokesperson Harry Roque(JOEY DALUMPINES/PRESIDENTIAL PHOTO / MANILA BULLETIN) “The President is not numb. Nobody wants the price of oil to increase like this so he gave three marching orders to his Cabinet secretaries,”Presidential spokesman Harry Roque Jr., speaking in Filipino, told radio DZMM Saturday. According to Roque, Duterte ordered the Department of Trade and Industry (DTI) to activate all its surveillance teams to strictly monitor the price of commodities and arrest those who go far beyond the suggested retail price. “The first order was for the DTI to monitor and arrest businessmen who violate the suggested retail price because there are many who take advantage of the situation,” he said. “The prices are already high but I think 70 percent of businessmen are taking advantage of the situation. There is a fine for that and their business may be closed,” he added. The President’s second orders was for the Department of Labor and Employment (DOLE) to find out if there is a need to increase the minimum wage, Roque said. “Secretary Silvestre Bello III said the regional wage board already met. They will see if there is a need to increase the minimum wage because if the prices of commodities are high, the salary needs to meet that,” he said. “But there is a process. This cannot be on a national scale because there is a law limiting the determination of wages to the regions,” he added. The Palace official also said that the third order was for the Department of Energy (DOE) to look for other countries where the Philippines can get cheaper oil. “The DOE is now looking for cheaper oil from non-OPEC members, including Russia,”Roque said. “We will do everything so we can import cheaper oil because not all oil producers are OPEC members,” he added. “We will also look into the possibility if we can get even just diesel because we can get that from Russia,” he continued. Roque had earlier appealed to the public, especially to traders, not to take advantage of the Tax Reform for Acceleration and Inclusion (TRAIN) law, especially following the increase in the price of oil in the world market. He said that it is unfortunate that some people are taking advantage of the TRAIN when there are a lot of people who benefit from it. “I appeal to the traders to unite with the rest of the country. Do not take advantage of the oil price hike as it will already affect the prices of commodities. Don't take advantage and increase it even more just so businessmen can profit more,” he said. Meanwhile, Senator Sherwin T. Gatchalian, chairman of the Senate Economic Affairs Committee, said President Duterteshould set his focus on policy reforms to improve the economy and its global competitiveness. Gatchalian stressed this after the Philippines took a big hit in the recently released rankings in the international arena. The Philippines landed at 50th spot in a ranking of 63 countries in the 2018 World Competitiveness Yearbook, a dip of nine notches from 2017 and the sharpest drop among Southeast Asian countries. The country's ranking worsened across all four indicators: economic performance (from 26th to 50th), government efficiency (from 37th to 44th), business efficiency (from 28th to 38th), and infrastructure (from 54th to 60th). “The slide in our country’s competitiveness should be a wake-up call for the government to pursue measures that will foster a more productive business environment for MSMEs and spur growth in key domestic industries with a lot of potential,” Gatchalian said. (With a report from Mario Casayuran)