Granted by both houses of Congress, these powers will enable him to either reduce or suspend the excise tax on oil products.
During a press briefing on Monday, March 23, Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro made some clarifications regarding the emergency powers of President Ferdinand Marcos Jr.
According to her, the said proposed measure, which the Chief Executive is expected to sign once his office receives the copy, will have its actual implementation depened on the conditions set by law.
“Bakit naman hindi po niya pipirmahan, eh siya po iyong nagnais nito,” she said, adding the President himself previously certified the bill as urgent.
However, she emphasized that signing the measure and enforcing it are two different matters, as under the law, the suspension or reduction of excise taxes on petroleum products may be implemented only after global oil prices reach at least US$80 per barrel for a continuous period of 30 days.
“At the time na binanggit niya iyan, wala pa po kasing 30 days, so mahihirapan po talaga siyang i-implement,” she said, with the threshold having been reached only in the past few weeks after the war in Iran broke out.
Although, she stated that once the required conditions are met, the government can immediately issue the necessary orders to implement the tax adjustment.
The officer said that the President’s cautious stance reflects the “complexity of balancing fiscal considerations with the need to cushion the impact of rising fuel prices on consumers.”
As per her explanation, the excise taxes are imposed “upon entry” of imported oil, with the timing of implementation also depending on the actual oil importation. “If ever wala tayong maaangkat na langis, so hindi ma-e-exercise iyong pag-reduce at pag-suspend ng excise,” she added.
