Suspend oil excise tax to tame inflation: PCCI

MANILA — The Philippine Chamber of Commerce and Industry (PCCI), the country’s largest business organization, on Thursday called for the suspension of excise tax on petroleum products amid the surge in inflation rates posted this year. PCCI President Alegria Sibal-Limjoco told reporters that the business group shared the same sentiment with the Employers Confederation of the … Read More

LRT-1 ridership reaches 14-M in August

MANILA — Over 14 million people rode the Light Rail Transit Line 1 (LRT-1) last August, its highest ridership in a single month to date, according to its operator Light Rail Manila Corporation (LRMC). Passenger volume was recorded at 14.6 million passengers which has higher by 8 percent to 13.45 million passengers for the same month … Read More

Yuchengco Group solar project gets BOI nod

MANILA — A unit of the Yuchengco Group of Companies (YGC) secured approval from the Board of Investments (BOI) for its solar project in Tarlac City in Central Luzon. On Thursday, BOI said it registered the 20-megawatt Tarlac Solar Power Project-2 (TSPP-2) of PetroSolar Corp, which is owned by YGC unit PetroGreen Energy Corp. BOI said … Read More

PH banana growers want immediate cut in SoKor tariffs

MANILA — Local banana growers urged the government to fast track negotiations with South Korea to immediately lower the tariff on Philippine banana exports, noting that they cannot wait for the conclusion of the Regional Comprehensive Economic Partnership (RCEP). In a statement Thursday, the Philippine Banana Growers and Exporters Association (PBGEA) said that waiting for the … Read More

Tariff reduction may not ease inflation

MANILA — Trade Secretary Ramon Lopez admitted that reducing tariff rates on some imported products may not help in easing price pressures. Lopez said the meeting last week of the Committee on Tariff and Related Matters (CTRM) has concluded that most of the agricultural products imported by the country are sourced from free trade agreement (FTA) … Read More

LGUs urged to reward environment-friendly businesses

MANILA — The National Solid Waste Management Commission (NSWMC) is urging local government units (LGUs) to issue ordinances in rewarding establishments that use environment-friendly packaging. “LGUs can consider issuing respective ordinances on the matter and possibly give incentives,” said NSWMC Secretariat Executive Director Eligio Ildefonso on Wednesday. The suggestion aims to address the country’s worsening garbage … Read More