Taxes, cement, electricity and land transportation - BusinessWorld Online

By Bienvenido S. Oplas, Jr.ast week, there were a number of developments in these four subjects or sectors: taxes, cement, electricity and land transportation.Last Monday, June 13, I organized a dinner with incoming Finance Secretary Benjamin Diokno and Budget Secretary Amenah Pangandaman, and I gathered a few fellow columnists inplus the newspaper’s editor-in-chief, Willy Reyes. I could have brought more columnists from the paper but Sir Ben wanted a small group.

I checked some key fiscal ratios: there is truth to Sir Ben’s assessment that the recent tax reform legislation have indeed improved the government’s revenue mobilization, but public spending has significantly gone up resulting in a huge jump in the budget deficit/GDP ratio in the last two years . Until last week, many Departments did not have secretaries yet, but the economic team — composed of the departments of Finance, Budget and Management, Trade and Industry, the, and Bangko Sentral ng Pilipinas — was filled up some three weeks ago. It was a good move by Mr. Marcos Jr., telling the business communities here and abroad that the selection of the economic team is based on expertise and not political patronage.

The ERC should leave the PEMC-IEMOP dynamics alone and respect the DoE circular that recognizes both entities.Until last week, the “Cement Anti Dumping” group kept sending their materials to columnists ofand perhaps other newspapers, arguing that expensive imported cement via higher tariffs is good and beautiful.

But the Land Transportation Franchising and Regulatory Board and Transportation department have been adamant on various controls — the cap or maximum number of carriers, transport network vehicle service and motorcycle taxis, the limit on the number of players, the limit or cap on the fares, etc.

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