The increase of the price of rice coupled with the price of gasoline is evident that a crisis looms in the Philippines. Since the prices of oil, rice and other food commodities are all inter-connected, Filipino families are adversely affected by this situation. According to Liberal Party President Senator Mar Roxas, prices of processed and canned meats would also go up due to several factors, such as tighter quantitative restrictions on imported meat, increasing prices of locally-produced meat and of tin cans as well as higher transport costs due to soaring oil prices. Prices of meat are also affected by the decreasing supply and increasing costs of feeds, such as wheat and corn.
The President of the Liberal Party said the government can heed the people's call for immediate relief by suspending the 12% VAT on oil and petroleum products. "Matagal na naming isinusulong ito, pero dahil ayaw ito ng administrasyon, hindi ito umuusad sa mababang kapulungan. Ngayong may krisis, mas kailangan ng taumbayan ang perang ipinahiram nila sa gobyerno (We've been advocating this for a long time already, but it has not progressed in the House because the administration does not want it. Now that there's a crisis, the people now need the money that they lent the government through taxes)," he said. "Hindi na puwedeng tingi-tingi ang mga solusyon ng gobyerno, dahil tali-tali ang ating mga problema (We can't live on the government's band-aid solutions because our problems are inter-related and affect each other)," he said.
Senator Mar Roxas' proposal to suspend the 12% VAT on oil and petroleum products is not only logical at this point in time in the Philippine setting but practical as well. It is a doable solution --- a LIBERAL one indeed!
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