Villanueva: Gov’t must find ways to cushion inflation impact

After the approval of a P1 provisional jeepney fare hike, Senator Joel Villanueva on Friday said government needs to step up and address the factors that drive the rise of prices of goods and services in the country.

While admitting that the provisional fare hike would sustain the livelihood of jeepney drivers, Villanueva said government must still find practical solutions to address the negative impact of inflation on Filipinos.

The jeepney fare was provisionally increased by the Land Transportation Franchising and Regulatory Board (LTFRB) from P8 minimum to P9 in Metro Manila, Central Luzon, and Calabarzon.

“The government really needs to step up to address the factors driving the accelerating prices of goods and services in the country,” Villanueva said in a statement.

The senator also proposed the lowering of the value added tax (VAT) from the current 12 percent to just 10 percent. He also cited the liberalization of rice importation “to allow Filipino families to avail of cheaper rice products.”

Government said the inflation rate breached 5.2 percent in June, a five-year high, as the peso weakens against the US dollar.  /muf