WEDNESDAY |JULY 09, 2008 | PHILIPPINES

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Jeepney, bus fares up P1
 New rates take effect by Friday

BY WENDELL VIGILIA

THE government approved yesterday a P1 increase in jeepney and bus fares, to take effect as early as tomorrow or Friday.

Because of the unabated increase in cost of fuel, the National Economic and Development Authority board led by acting chief Augusto Santos approved the fare hike petition recommended by the Land Transportation, Franchising and Regulatory Board during the weekly Cabinet meeting with President Arroyo.

The P1 increase means jeepney fare will now be P8.50 for the first four kilometers, with an additional of 25 centavos for each succeeding kilometer.

Full Story...

DOF: VAT scrapping
will benefit rich

BY JOCELYN MONTEMAYOR

THE government yesterday rejected anew proposals to scrap the value added tax on oil products but said it is looking at a possible reduction.

Finance Secretary Margarito Teves said scrapping the 12 percent VAT on oil would benefit the rich and deny the poor of government programs that could help them cope with the rising prices of commodities.

"Department of Finance studies also show that lifting the VAT on oil will largely benefit the rich because they are the biggest consumers of oil while most of the consumption of poor families is VAT-exempt such as agricultural food products," Teves said.

 Full Story...

2 members quit Princess probe panel

BY GERARD NAVAL

THE probe on the MV Princess of the Stars tragedy last June 21 was suspended yesterday when two members of the Board of Marine Inquiry (BMI) inhibited themselves.

BMI chair Rear Admiral Ramon Liwag said Capt. Benjamin Mata and Commodore Amado Romillo decided to inhibit in the light of accusations they are biased against Sulpicio Lines Inc.

At least two more fatalities from the capsized "Princess of the Stars" were washed ashore off San Francisco town in Quezon province and were buried by local residents late Monday.

 Full Story..

 

 
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 OPINION
Editorial

Getting high on people’s misery

Column of the Day

Scrap VAT
 BY ELLEN TORDESILLAS

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SPORTS
Games of death

 ENTERTAINMENT
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LIVING
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 Peso

$1=45.87
 


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