Red flag is up
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The business and labor sectors went out united and in full force last Friday to protest the astronomical cost of electricity which the Philippines has the unenviable distinction of having the highest in the world. Pro-market Noy through his Palace pawns merely shrugged off the pleas and directed the protestors to the Energy Regulatory Commission (ERC), an agency which as far back as memory can recall has not made any lasting contribution to the lowering of power rates.
Instead, the supposed regulator is currently reviewing a string of applications for further increases in electricity bills from the power sector that appears emboldened by the stance made known by Noynoy to all and sundry that his administration will not stand in the way of price setting.
Appeals for the government to intervene in the rising costs of fuel and road tolls, for instance, failed to get the sympathy of Noynoy who merely said that government not intervening in the pricing of basic commodities and services will benefit the country in the long run.
The plain truth, however, is that price increases make living for Noynoy more convenient with the 12 percent value added tax (VAT) in place. Without much effort, the VAT assures his administration of extra revenues for every price increase..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110926com1.html
1 comment
ang lahat ay may katapusan at ang pagpapasasa ninyo, aquino-cojuangco sampu ng kad-dilaw ninyo ay matatapos din kaya huwag kayong masyadong kampante sa kawlnghyaan ninyo.
"These costs were “stranded” after the former administration merely suspended portions of payments to independent power producers instead of reviewing the provisions of contracts with the power plant operators that are considered onerous to the government.
"Strangely, these power contracts remain sacred under Noynoy’s administration despite supposed broad efforts to suspend and review many other past contracts suspected of being tainted with irregularities."
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