SENATOR Christopher “Bong” Go has urged the national government to look into the possibility of providing subsidy to low-income households and strategic sectors amid the effects of the rising inflation.
In an ambush interview after personally assisting recovering typhoon victims in Noveleta, Cavite, Go highlighted that the rising inflation is still being driven by the rising prices of fuel and the war between Russia and Ukraine.
He then strongly suggested that the government study the possibility of subsidizing and aiding low-income households and strategic sectors that are hardest hit by rising prices.
“Nananawagan ako sa Executive Department kung pwede pong magbigay ng mga ayuda pa sa mga apektado dito. Subsidy, halimbawa, sa mga tsuper, subsidy sa kanilang pagmamaneho, fuel subsidy sa mga mahihirap,” said Go.
According to the Philippines Statistics Authority, annual inflation for the month of November jumped to 8.0%, the highest rate of increase in 14 years, as a result of rising food prices.
The reported number was higher than the 7.7% seen in October’s inflation numbers and higher than the 7.8% estimate by Reuters. Greater expenditures on food drove much of the increase.
Crops like vegetables, rice, and fruits have taken a beating from recent typhoons, contributing to higher food prices.
National Economic and Development Authority Secretary Arsenio Balisacan said in a statement that “[t]he government is continuously implementing targeted subsidies and discounts to allay the impact of the higher prices of essential goods, especially for the vulnerable sectors and low-income earners of our society.”
He added that there will be an increase in food production in the country in an effort to alleviate price pressures.
Finally, Go urged the Department of Trade and Industry to keep an eye on prices and ensure that no one takes advantage of the situation, emphasizing that every centavo matters to the average Filipino.
“Bantayan po ng DTI ang pagtaas ng presyo at wala pong dapat manamantala,” urged Go.
“Walang dapat mag-take advantage sa sitwasyon dahil hirap po ang mga PIlipino. Bawat piso po ay napakahalaga sa ordinaryong Pilipino lalung-lalo na po ‘yung mahihirap,” he concluded.