Signature drive. Kontra KulimVAT, a campaign launched by Bayan Muna against the increase in value added tax, is soliciting signatures at the MRT North Edsa station calling on Meralco to bring down its power rates and is also urging Congress to scrap the VAT on oil and power.
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Oil tariff at zero
won't stem prices Teves says: No stopping
increases
BY REGINA BENGCO
FINANCE Secretary Margarito Teves yesterday
said the tariff on oil imports would be brought down to zero on
June 1 following the rise of global oil price to $135 per barrel
on Thursday.
Don't expect any immediate lowering of
prices, he said.
The zero tariffwill not immediately
result in lower pump prices because some companies still have
recoveries, he said.
THAI Prime Minster Samak Sundaravej has given
the assurance that his country is committed to providing the
rice needs of members of the Association of Southeast Asian
Nations, Executive Secretary Eduardo Ermita said yesterday.
Samak, who met with President Arroyo met in
Malacañang Thursday night, also gave his commitment to provide
the Philippines as much rice as it needs.
"They will be very accommodating to the needs
of an Asean (neighbor). the Prime Minister told the President
that Thailand, as a main source of rice in the world, is open to
helping out Asean member-countries especially the Philippines in
accordance with our needs," Ermita said.
THE Department of Trade and Industry has
asked the Energy Regulatory Commission to order Manila Electric
Co (Meralco) to refund the system loss that it has been passing
on to its customers.
In a petition, DTI-Bureau of Trade Regulation
& Consumer Protection said Meralco should not pass its pilferage
losses to consumers since it was due to the distribution firm's
"inefficiency to safeguard its franchise from pilferage."
"In allowing Meralco to continue passing on
the pilferage losses incurred within its own system, best
efforts by distribution utility to combat pilferers would become
illusory," it said.
