Sen. Bam calls for passage of Bawas Presyo Bill amid rising fuel prices

Sen. Bam Aquino renewed his push for the passage of his Bawas Presyo Bill, following the fresh round of increase in prices of petroleum products.

"Kumilos na tayo. Hindi pwedeng nganga lang ang gobyerno sa sunod-sunod na pagtaas ng presyo ng langis," said Sen. Bam, alluding to the latest round of oil price increase on Tuesday.

"Huwag nating kalimutan na may responsibilidad tayo sa bayan, lalo na't tumitindi ang hagupit sa publiko ng patuloy na pagtaas ng presyo ng bilihin," added Sen. Bam.

Sen. Bam said the government should consider Senate Bill No. 1798 or the Bawas Presyo Bill as one of the options in solving the rise in prices of goods and services due to the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

"Hanggang walang ginagawa ang pamahalaan, lalong malulunod ang taumbayan sa mataas na presyo ng bilihin. Kailangan nang kumilos ang pamahalaan," said Sen. Bam, one of four senators who voted against the ratification of the TRAIN Law.

Sen. Bam's Bawas Presyo Bill aims to suspend the excise tax on fuel under the TRAIN Law when the average inflation rate surpasses the annual inflation target over a three-month period.

Passing the measure is crucial as it will stop the second round of increase in excise tax on petroleum products under the TRAIN Law in January 2019, according to Sen. Bam.

Aside from pushing for the enactment of the Bawas Presyo Bill, Sen. Bam also called on the government to fully implement the social mitigating measures under the TRAIN Law to alleviate the burden of the public, especially the poor.

Among them are the unconditional cash transfer program, Pantawid Pasada Program and the 10-percent discount on NFA rice.