LIVE: Sen. Sherwin Gatchalian holds press briefing

Описание: Senator Sherwin "Win" Gatchalian discusses the possibility of declaring a state of "economic calamity" to tap into the National Disaster Risk Reduction and Management (NDRRM) and contingent funds amid continuous and elevated oil price hikes in the Philippines.

In this media interview, Sen. Gatchalian explains the proposed standby powers for the President to suspend the excise tax on petroleum products, the complications of suspending Value Added Tax (VAT), and the push for targeted relief through the Pantawid Pasada Program to help affected PUV and jeepney drivers. He also addresses the suggestion of reverting to online classes to reduce fuel consumption and reassures the public that the country has sufficient fuel and food supply, advising against panic buying.

Chapters:
0:00:00 - Intro
0:00:40 - Tapping Calamity and Contingent Funds for Oil Price Hikes
0:03:18 - Pantawid Pasada Program and Fuel Subsidies
0:04:30 - Standby Powers for the President to Suspend Fuel Excise Tax
0:07:08 - Projected Foregone Revenues from Excise Tax Suspension
0:08:00 - Why Suspending VAT on Fuel is Complicated
0:09:57 - Timeline and Formula for Excise Tax Suspension
0:12:08 - Defining 'Economic Calamity' for Fund Utilization
0:14:06 - Supplemental Budget vs. Excise Tax Suspension
0:18:28 - Sen. Gatchalian on Shifting to Online Classes to Save Fuel
0:21:16 - No Need for Panic Buying: Fuel Supply is Sufficient
0:22:58 - Proposed New Formula for Triggering Tax Suspension

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