Philippine President Gloria Macapagal-Arroyo said Tuesday that revenues collected with "tough" measures from the country's tax on oil would go to the poor people to alleviate the impact of rising prices.
The President said that four billion pesos (88.5 million U.S. dollars), collected through the 12-percent oil tax from April to June, has been allotted to "socio-economic services."
Of the amount, one billion pesos (22.2 million dollars) was allotted for power subsidies for "lifeline power users" or those consuming 100 kilowatts or less a month; one billion pesos was allotted to calamity-stricken areas, specifically for the repair and rehabilitation of damaged roads, bridges and ports; one billion was earmarked for micro-finance and the remaining 1 billion pesos was divided equally between the senior citizens and the upgrade of tertiary hospitals to primary hospitals so the poor can have more access to enhanced healthcare services.
"This is government's way of giving back to the people, especially the poor, the benefits of a growing economy brought about by the implementation of tough economic measures," said the President.
"We need to focus on our work as we prepare to help our citizens during the typhoon season, and even in providing assistance every day to families coping with the rise in prices of basic commodities. There is no time for politics, and we should lock arms with those who are willing to join us in helping out in these difficult times," Arroyo said in a speech.
"It's a good thing that the public coffers have grown, thanks to the tax reforms," she added.
Earlier this week, President Arroyo dismissed calls for scrapping the country's tax on oil to decelerate the rise of fuel prices.
With the revenues generated by "tough" fiscal reforms, the government can now focus its attention on "day-to-day problems that have taken all countries by surprise in the world food and fuel crises, while continuing to invest for a better tomorrow," said the President.
Source:Xinhua
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