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The House of Representatives is ready to discuss ways to curb and manage the oil price spike amid rising tension in the Middle East as a result of the Israel-Iran conflict.

This, as several groups have already called on the government to suspend Value Added Tax (VAT) and excise tax on petroleum and gas products as a way to mitigate the situation. (Video courtesy of House of Representatives)

READ: https://mb.com.ph/2025/06/25/house-ready-to-discuss-impact-of-war-driven-oil-price-hike

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Transcript
00:00Itong mga measures na pwedeng ma-i-file sa 20th Congress ay aabangan pa natin para hintay natin kung meron na ma-i-file na measure tungkol dito.
00:17Definitely, kailangan mapag-usapan.
00:19Lalo na sa mga nangyayari ngayon globally, alam natin yung epekto nito hindi lang tungkol sa peace and security but it also involves may economic impact din sa atin.
00:34Kasama naman din yung mga ganyang pag-uusap sa mga gustong i-prioridad ng House of Representatives sa susunod na kongreso.
00:49Hindi ko masasabi kung meron nang nakaabang na measure tungkol dito.
00:57Magsisimula pa lang ang actual na pagbukas ng Secretariat sa mga if-file by June 30.
01:06But definitely, kasama ito sa mga gusto natin bigyan ng pansin yung kung paano natin matutulungan na mamamayan
01:15dun sa pagtaas ng presyo ng bilhin kasama dito.
01:19Yung presyo ng gasolina.
01:27Basta po usapin ng, di ba, pagtumaas ang presyo, lagi po tayong nakaambang.
01:32So alam natin napakahalaga po talaga na masiguro po natin na hindi po sobrang bigat.
01:40We also await what would be the information that will be provided to us as members of the would-be new 20th Congress.
01:49On this matter, mahalaga po talaga mapag-usapan.
01:53Kasama po sa mga aming inaaral ngayon as we go through our training is to make sure that we make informed policy decisions.
02:00So that will be based on what is the status, the evidence, ano po magiging epekto once po na ating sinuspend ang collection,
02:09sobra po bambababa, ano po yung fiscal space na sustainable, ano po yung possible na maging repercussions if unregulated naman po
02:17at sobra po lalo na sa mga global conflicts po na nangyayari.
02:21So kasama po yun sa aming mga magiging assignments at pinaka-importante naman po,
02:26lagi po sinasabi ni Attorney Abante na punot-dulo dapat ano po yung mas makakabuti po para sa ating mga mamamayan.
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