Higher taxes on oil products imminent

THE DUTERTE administration is bent on raising the excise tax on petroleum products and is now drafting a targeted subsidy scheme similar to the existing conditional cash transfer (CCT) program for poor households to be affected. Finance Secretary Carlos G. Dominguez III pointed out that “contrary to the common perception that fuel excise tax increases…

Government drawing up new energy mix

The government will not touch most of the coal-fired power projects in the pipeline as it plans to determine the appropriate energy mix policy, a ranking government official said yesterday. The government recognizes the need to consult with power industry players over a clear fuel mix policy and the country’s need for a reliable power…

DOF wants all power assets sold in 3 years

The Department of Finance wants to sell all government power assets in a span of three years to boost revenues. “The original plan for PSALM (is) to get rid of the assets after five years. That was 10 years ago. We have to speed up their disposal of assets,” Finance Secretary Carlos Dominguez said. Pressed…