Measures vs price hikes all ‘short-term’ — Diokno
By Chito Lozada 04/08/2011The measures being taken by President Aquino to address rising prices have short-term effects and may even encourage corrupt practices, according to noted economist University of the Philippines (UP) professor Benjamin Diokno.
Aquino the other day directed economic officials in the Cabinet to study the possible imple-mentation of a wage increase for private employees, a reduction of the value added tax (VAT) on fuel and the imposition of price controls on basic com-modities which was seen as a move to shore up his falling survey ratings.
Diokno, who was also a former Budget Secretary, said the government should look for long-term solution to rising prices and that price control won’t work except for a very short period..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20110408hed5.html
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