Bayan calls on people to protest rising prices, budget mismanagement

Bayan calls on people to protest rising prices, budget mismanagement

Bayan calls on the Filipino people to protest the worsening cost-of-living crisis as oil prices rise for the 11th straight week, and as affordable rice remains unavailable to the public. The price increases are aggravated by the clear budget mismanagement of the Marcos regime as it wastes public funds on foreign travels and confidential funds.

After 11 weeks, the total oil price increase for diesel would be P17.40 per liter while the total increase for gasoline would be around P12.35 liter. During the same period, the total increase for kerosene would be around P16.00 per liter.

Instead of helping Filipino motorists, the President was more invested in watching F1 race cars in Singapore during the weekend.

The government should lower taxes on petroleum products so that the entire nation can experience some relief from rising prices. The VAT on oil is particularly oppressive because the collection increases every time the price of oil products increases. In 2022, it was estimated that VAT windfall revenues from oil price hikes reached P40 billion. Meanwhile, the recent fuel subsidy being distributed to PUV drivers is only at P3 billion.

The regime does not want to suspend the VAT on oil because this is where they source the windfall revenues to sustain questionable spending such as confidential and intelligence funds. The regime would rather see the people suffer than reduce spending for confidential funds.

As for the problem of affordable rice, the regime is swinging from one failed measure to another. The so-called price cap was a mere populist gimmick because it did not address the basic problem of supply of affordable rice. It did not break up cartels and the hoarding of rice. Now people cannot find the P41 rice in local markets.

On the other hand, the Marcos regime is back to its default setting of importing rice, this time with zero tariffs, to supposedly lower rice prices in Philippine markets. The effects of zero tariffs on rice imports will be damaging to domestic rice producers. Why resort to massive importation during harvest season in the Philippines? The Marcos regime should be helping Filipino farmers, not rice importers.

The Marcos regime should decisively address the worsening economic situation by raising wages, reducing or suspending oil taxes, investigating the pricing of oil products, all-out support for domestic rice production, breaking up of rice cartels, and abandoning the liberalization of rice importation. Wasteful and non-transparent spending such as the P4.8 billion confidential funds such be abolished from the national budget.

Various groups are set to mark the 51st anniversary of the declaration of Martial Law on September 21, Thursday. Protests will also be held in Hong Kong , Japan Australia, Canada, the US, South Korea and New Zealand.

The Bagong Pilipinas is no different from the horrific Bagong Lipunan of the Martial Law era. Both intend to deceive the people because in reality, there is no real change happening. From 1972 to 2023, the Marcos game plan is still to remain in power at the expense of the people’s welfare and basic rights. ###