The fare hike pushed transport groups is not a solution to overcome the surging cost of fuel, because it will result in a rise in the prices of basic commodities that will hit the public hard, a press release from Bayan Negros said.
Instead, the group said that oil price regulation is necessary, and this could be done by abolishing the Oil Deregulation Law in the country.
The government should also lift the 12 percent expanded value added tax on oil products rather than approving the fare hike, the press release said.*
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