The Department of Finance (DOF) recommended on Tuesday that impoverished households get a P200 monthly subsidy for a whole year to help offset the impact of rising gasoline prices.
On Wednesday morning’s Talk to the People, DOF Secretary Carlos Dominguez III delivered the idea to President Rodrigo Duterte, recommending that the excise tax on oil goods be retained despite requests for its abolition.
Second, we give targeted subsidies of P200 per month per home for a period of one year to the lowest 50% of Filipino households. “This would result in budgetary requirements of P33.1 billion,” he added.
Dominguez acknowledged that the sum may not be sufficient, but he stated that it is all that the government can afford to offer at this moment.
“Mr. President, we realize this is not enough but this is what we can afford as of this time. And to make sure our finances going forward and especially for the next administration are still going to be healthy, this I believe is what we can afford,” Dominguez added.