House Lead panel holds hearing on implementation of PH state of energy emergency — April 13

[0:24] good morning everyone we will start this morning's session with the prayer coming from [0:31] the honorable congressman brian paulia manzaris from partilist fpj let us all place ourselves in [0:39] the holy presence of the lord in the name of the father son holy spirit amen dear lord thank you [0:45] for the little things we often overlook the quiet moments gentle smiles and simple joys that fill [0:51] our days teach us to slow down and notice these small blessings to find beauty in the ordinary [0:57] and grace in every day when life feels overwhelming help us to remember that your love is present even [1:03] in the smallest details may you bless and guide us in today's hearing that we may find solutions [1:08] to shepherd us through the crisis and may we find the strength to approach these trying times [1:13] as a unified people fill our hearts with gratitude oh lord so that we may cherish each moment as a [1:21] gift from you amen amen kindly remain standing for the national anthem [1:51] 0�p� [1:53] 0'00 [1:55] 0'07 [1:57] 0'08 [1:59] 0'05 [2:01] 0' étape [2:01] Oh [2:03] 0'o [2:04] 0' cleanser [2:05] you [2:06] 0'o [2:08] 0'o [2:09] 0'o [2:10] 0'a [2:12] 0'o [2:13] 0'o [2:14] 0'o [2:15] 0'o [2:16] 0'o [2:17] 0'o [2:18] good morning everyone on behalf of the [3:00] legislative energy action and development joint committee we resume the hearing the briefings [3:11] today for the record today is 13 april 2026 allow me to just make a brief opening statement [3:24] magandang umaga sa ating mga kasamahan sa kongreso na nandito kahit tayo ay nakabreak [3:32] umahanap ng oras para bigyan ito ng tamang atensyon sa ating mga resource persons at sa sambayan [3:40] pilipino na nanonood at nakikinig last week we convened for the first meeting of the [3:48] lead joint committee one thing became very clear during that meeting the challenge before us is not [3:55] simple and certainly not isolated we saw how the ongoing global clone conflict has translated into [4:03] real economic pressures here and at home we were reminded that while supply remains stable for now [4:10] the real issue confronting us is affordability and the cascading effects of high prices across the [4:17] economy mula sa ating mga ahensya nakita natin ang mga tugon ng pamahalaan mula sa paggamit ng [4:24] malampaya fund hanggang sa mga repatriation effort para sa ating mga OFW at sa mga subsidiya [4:31] na ngayon ay umabot na sa daang daang libong beneficiaryo sa pagpapatuloy ng ating discussion [4:38] na is namin maging malinaw lahat ng policy options ay nananatiling bukas lahat ng datos at [4:46] informasyong ating naririnig ay patungo sa paglikha ng isang komprehensibo malawakan [4:53] at pang matagalang tugon we are open to all options even proposals on the suspension of the vat [5:01] or other price reduction methods however as emphasized in our previous discussions these [5:07] measures must be carefully studied not only in terms of the overall fiscal impact but more importantly [5:14] whether they will truly result in meaningful reductions in pump prices for our people without [5:21] undermining the long-term strength of our economy we need to make sure that these policies are [5:27] evidence-based at na ang makakatanggap ng ayuda at tulong ay ang mga pangunahing nangangailangan [5:33] talaga ng tulong na ito hindi lamang ang pinakamabilis o pinakamadaling solusyon [5:39] ang ating hinahanap ang tunay na kailangan natin ay ang wastong balanse ng isang solusyon maagap [5:47] efectivo at responsable for today's session to facilitate a more structured and focused discussion [5:54] we have organized our briefing into four main parts for this morning we will hear updates on [6:01] the energy supply and stability covering fuel supply pricing mechanisms and ongoing efforts [6:08] to secure and diversify our energy sources secondly we will examine the status of subsidy and ayuda [6:16] programs their implementation sustainability and targeting mechanisms third we will focus [6:24] on the transport sector which remains among the most directly affected by the rising fuel costs [6:31] and fourth we will tackle the situation of food agriculture and the fishery sectors recognizing that [6:38] rising fuel prices inevitably translate into higher food costs and increase pressure on our farmers and [6:46] fisherfolk allow me to emphasize that this will not be our last meeting we will continue to convene as [6:53] a joint committee in the coming days to ensure that all sectors especially the most vulnerable [6:59] and the middle class are given the attention and support they require but for today our focus is clear [7:06] to address the fundamental cross-cutting issues that determine whether a filipino family can put food on the [7:13] table whether a worker can afford to go to work and whether our economy can remain stable amid continued [7:20] uncertainty and finally to ensure that we are able to hear from all our sectors allow me to just briefly [7:27] lay out the conduct of today's discussion and i implore the indulgence of my colleagues interpellations will [7:35] be limited to five members per topic two from the minority and three from the majority for each topic for each [7:42] uh topic session each member shall be given a maximum of five minutes excluding the answer and include [7:50] excluding also the uh discussions coming from the chairpersons at the conclusion of all four segments we [7:58] will all open the floor for more extensive discussions to other members during the open forum these guidelines [8:06] have been shared with all our members prior to this session we ask for understanding and cooperation [8:11] uh pakikiusap sa ating mga kasama para magkaroon tayo ng focus orderly at productive discussion sa ating [8:19] mga kasamahan at ang ating tungkulin sa committee ito ay hindi lamang magtanong kundi mas mahalaga maghanap [8:26] ng konkretong solusyon mga solusyon na hindi lamang para sa kasalukuyang krisis kundi upang masiguro na [8:33] sa susunod na pagsubok kung darating man ito mas handa ang ating ekonomiya mas protectado ang ating mga [8:41] mamamayan at mas matatag ang ating bansa maganda umaga maraming salamat po may i recognize our [8:50] colleagues who are here today if they wish to uh make a statement you are free to do so may i from uh [8:59] from that with the highest uh salen i recognize the honorable jose pipito alvarez chairman of the [9:07] committee on energy manong if you have some words please uh magandang umaga sa lahat uh hopefully [9:13] matatapos tayo uh today but uh we hope that uh yung meeting natin eh patuloy upang mabalangkas [9:25] natin yung gagawain sa mayo para magkaroon tayo ng komprehensibong pag pag paghahanda sa hindi lang [9:33] itong middle east crisis ngayon kung hindi sa mga darating pang mga crisis maraming salamat and we [9:41] hope for everyone's cooperation thank you maraming salamat uh from the uh committee on agriculture [9:47] the chairman the chairman congressman uh uh mark mccormick in verga thank you very much mr chair [9:56] in the interest of time mr chair given that there are so many agencies with us today but i'd like [10:01] to thank secretary rex gachelian for joining us today uh in the interest of time mr chair i will [10:07] reserve my right to submit in writing uh my brief opening statement uh and i hope for a very fruitful [10:14] discussion in today's uh hearing thank you mr chair maraming salamat uh from the committee [10:19] on transportation like to call our chairperson the honorable congressman france pumarin thank you [10:25] good morning of course uh we'd like to acknowledge the presence of uh after secretary banoy alam [10:30] naman po natin ang pinaka-apektadong sector dito is in transport sector so um for sure marami po [10:37] tayong katanungan i reserve my opening stipulator in high rating nalang thank you the transport sector [10:43] will be taken up later from 2 30 to 4 30 this afternoon the chairman has uh many many suggestions [10:50] and questions we will take that up later from the chairperson of the information communication [10:55] technology uh i'd like to recognize uh honorable migs villafuerte maraming salamat po mr chair at maganda [11:05] umaga sa lahat for the interest of time parang po mabilis at makastarta po tayo tulad po na aking [11:12] at tulad po na sinabi na aking mga kasama dito na sana maging lively at uh open ang ating [11:19] discussion uh sa ating mga kasamaan sa uh iba't ibang departments maraming salamat po sa inyong presence [11:27] uh lalo na sa DICT mamaya na lang po ako magtatanong uh and heads up lang it will be regarding the rampant [11:35] pan spread of false and fake news uh talagang nakapagkalat ng misinformation sa ating bansa [11:44] through social media sumama na mamaya na lang po yun uh sana uh maging productive at mabilis [11:50] ang ating usapan para po sa sambayan ng pilipino maraming salamat po maraming salamat uh uh [11:59] congressman chairman uh mark uh in berga would you do the honors of recognizing our colleagues who are present [12:05] today yes thank you on behalf of the honorable chair miroquimbo the lead committee would wish to [12:11] acknowledge the presence of the honorable gerardo jerry boy espina the honorable brian poe the [12:17] honorable hill cabarangay acosta the honorable kenneth gachalian the honorable jennifer lagbas [12:25] the honorable former president and former speaker gloria macapagal arroyo the honorable walfredo armand [12:32] de magila jr the honorable james jojo ang jr the honorable ricardo cruz jr the honorable iris marie [12:43] de mesa montes the honorable jonathan keith flores the honorable arthur yap the honorable rufus rodriguez [12:52] the honorable jenny vicente bambi emano deputy speaker the honorable renee luisco the honorable percival [13:00] perci sandania the honorable leandro ligarda libiste the honorable antonio tinio and the honorable [13:08] sarah jane elago maraming maraming salamat po for joining us in today's uh lead committee joint [13:15] lead joint committee healing we also have uh 78 members who are on zoom we will recognize you a little [13:22] bit later uh is there another uh good uh chairman mark yes thank you and we'd like to also acknowledge the [13:32] presence of the honorable uh jay vergara thank you sir for joining us and the honorable leo rodriguez [13:37] and the honorable tina talavera lopez and the honorable deputy speaker christine singson our apologies um [13:47] medyo na didelay mr chair yung pagdala ng mga and the honorable ellie san fernando is with us today [13:54] good morning again everyone like to recognize the cabinet secretaries who are here today who's taken [14:00] and have taken time in the order of arrival the honorable uh secretary rex rex gachalian of the swd [14:15] the honorable uh renee secretary renato solidum of the osd the acting secretary of the dotr [14:27] acting secretary giovanni z lopez did i miss anyone i think secretary sharon garin is already here am i [14:36] correct where she's not so mr chair go ahead secretary green is in senate hearing so she [14:50] prioritized the senate over the house hearing is that the is that what you're saying no sir i'm [14:58] just saying she is attending the senate hearing sir i think the better answer is she also sent a [15:05] equally competent individual to answer to these questions so having said that this morning session [15:14] for everyone's benefit uh we'll be dealing with uh the updates coming from the department of energy [15:25] who has a presentation i believe under secretary sales please go ahead thank you sir we can have these [15:34] slides up please good morning to all the honorable members of the lead joint committee yeah so while [15:43] waiting for these slides yes it's day 44 since hostilities broke out last february 28th and today's [15:51] april 13 44 days since the start the only major intervening event since we last met was the [16:03] agreement to a two-week ceasefire and this now is reflected in this week's pump price adjustments next [16:13] slide please just to put it in graphical form february 28th to april 13th the ceasefire was agreed last april 8th [16:28] so it's holding but a bit tenuous the headline story here is that after the meeting face to face in islamabad [16:38] both parties left islamabad still quite a distance apart so in practical terms there are limited number [16:50] of vessels still able to cross the strait of hormuz next slide please this just shows the movement of the [17:04] prices of the commodities the orange line is dubai crude the important line here is [17:14] the red line diesel so when hostilities broke out before that there is a constant separation from [17:24] crude oil and diesel this is what is known as the crack spread as hostilities broke out the red line [17:32] diverges much much faster rising this is diesel against the dubai price so essentially the crack spread [17:43] between crude oil and the final product diesel has spread it was highest at about 66 dollars [17:53] after this uh after the declaration of the ceasefire this went down to 44 dollars still the situation is [18:04] tenuous and how it things move forward is still very much uncertain next slide please this is a summary of [18:16] the movement since the start of the movement since the start up to the present time so in diesel [18:24] we had prices before the crisis from between 48 to 65 pesos per liter year to date the increase is up to 82 [18:35] pesos and for this week the doe is estimating a range from between 105 to 147 pesos per liter [18:46] so that's about a 20 peso decrease coming in by tuesday tomorrow all the products follow a similar [18:56] trajectory but diesel leads in terms of the actual pump price increase followed by kerosene in lpg this is [19:10] price price from the monthly code from the monthly code of aramco the code the pricing is during the end of [19:18] the month the last week so our april pricing was the close of march which increased by over 243 dollars [19:32] per metric ton so now this is reflected in the domestic market the 11 kilogram tank is now ranging from [19:40] 1100 to 1600 pesos next slide so the increases are broken down here so you can see the consecutive [19:55] increases in petroleum prices the record increase was attained in the week of march 17 to 23 where the [20:05] increase was about 22 pesos per liter this week by tomorrow we are expecting a adjustment downward of [20:15] between 20 to 21 pesos so there's some relief but as mentioned earlier this is primarily due to the two [20:25] weeks is fire and anything that happens uh until uh the end of the two weeks will uh definitely affect the [20:35] movement of the price in the coming weeks next slide okay we're showing here the lpg prices so you can see [20:50] the big effect uh before the war it was about 542 dollars per metric ton after it was priced in our april prices [21:02] are now at 785 dollars per metric ton like i mentioned earlier the increase is about 243 and 50 cents per metric ton [21:15] this translates to a retail price in our 11 kilogram lpg tanks from 1141 to 1630 pesos a targeted subsidy to [21:34] affected households is the immediate relief that can be considered for this increase in lpg prices in terms of [21:46] our inventory so the latest is the green bars which lies on top of the product scale so as you can see [22:01] generally there's little movement in lpg actually we've increased our in-country stocks and confirmed [22:10] orders from last week's 34 days to this week's 36 in diesel again there's a slight increase [22:21] increase from last week of 49 47 days to 49 days this week and a slight drop in gasoline from 60 to 54. [22:33] the summary is on the right panel through the crisis the general levels of inventories have been uh maintained [22:46] next slide please now these are projected forward scenarios where [22:53] in scenario a we consider a status quo where the ceasefire holds and that potentially gets extended for [23:06] further talks so in this situation potentially diesel could go down to 90 to 105 pesos per liter if the [23:20] scenario holds for four to six weeks scenario b the ceasefire ends without resolution so we're still in the same [23:31] crisis situation the projection is diesel will go up again from between 130 to 170 pesos per liter and [23:44] correspondingly gasoline and correspondingly gasoline in sort of a best case scenario where a long-term agreement [23:56] and cessation of hostilities is achieved diesel at the pump would go down to 75 to 90 pesos per liter but [24:10] this will take a couple of months to for the price to ease back to those levels so this will still be higher than our [24:21] pre-crisis pricing and this is primarily due to structural damage in the middle east in terms of facilities and the [24:31] moving around of logistics to bring crude oil to the market next slide please this is just a summary of the [24:43] the doe actions that have been taken with regard to the oil and gas downstream we have piano cecf [24:53] contracted one over one million barrels of diesel and the first shipment was from japan delivered last [25:01] march 25 to 28 the second shipment arrived last april 10 and finished discharging in subic early this [25:12] morning there's two more shipments totaling about 600 000 barrels that will be delivered in the country [25:21] from between april 16 to 25 on consumer protection gas inspections continue to be conducted nationwide we have [25:36] bantai gas and ego ph up our life on energy and fuel efficiency government-wide fuel reduction directives [25:46] have been issued and we are targeting 10 to 20 percent reduction next slide please malampaya gas is at full [25:59] utilization and we are fast tracking the uh entry of about 1500 megawatt renewables into the grid by the [26:13] the end of april at the end of april to early may on policy the studies on the strategic petroleum reserve is [26:24] ongoing the doe expresses openness to amending the downstream oil deregulation deregulation act [26:33] to allow price scrutiny in emergencies they're also working on the implementation of the upsell [26:42] which is the asean petroleum strategic agreement to be accelerated as well that's uh the updates uh mr [26:56] chairman from the department of energy thank you before we open like to reminder members let's make the [27:04] government agencies finish so next up is the department of uh finance uh is there any update from uh [27:12] last thursday just see if you have one or not good uh regarding uh update from the dof uh first of all [27:21] um uh apologies from the secretary of finance since he is attending a spring meeting in washington dc this [27:28] week um for the update um we're still awaiting for the uh instructions from the office of the president [27:37] with regards to the lifting of the uh excise tax uh exemption what does that mean when is the [27:45] effectivity isn't that today um if uh i-release po ng office of the president uh the effectivity will be [27:55] one to two days uh yung effectivity nung lift yung ano nung uh exemption ng excise tax uh right now po wala [28:04] pa pa pong uh directive sa amin hinihintay pa po namin so once the for instance it comes out today the [28:11] the president makes an announcement how is it going to be implemented um will be it will be issued through [28:18] an executive order and then once the executive order is uh issued we will we will be uh issuing the [28:27] necessary uh memorandums uh through the bureau of customs uh for uh duns uh exemption ng excise tax so the [28:35] long and short of it is it is the policy of the dof in terms of implementation that the suspension will [28:42] only apply to new inventory ah o po yung mga parating po na importation so yung mga nandito hindi [28:50] na po ma it will be uh hard po with regards to admin uh feasibility yung pag bawi nung excise [29:03] tax mga inventories na nandito na sa pilipinas hindi naman namin pinapabawi eh ang sinabi namin [29:11] dyan is you just give them credit for the amount that they have advanced and that once the suspension [29:18] is lifted we can start applying that hindi ba kaya yun you have an inventory coming from the boc [29:24] of the amount that they have paid dyan pa natin makikita yung mga gas companies sa hindi nagbabayad [29:29] ng excise tax yung mga nagsismaggle makikita natin yun yeah we will consider that uh mr chair yeah you [29:37] you've been considering that for quite some time i think we need a categorical answer you have to tell us [29:42] it's impossible to implement or not because otherwise the pronouncement of the president will be [29:49] will not be felt immediately which is uh which is needed by our people so anyway we have the entire [29:58] day today we need a categorical answer coming from you in consultation with the boc and the bar [30:04] relative to its immediate implementation so when we say immediate is as soon as the president announces [30:10] the following day we will reduce with uh uh regular a premium by 10 pesos diesel by six [30:18] kerosene by 450 and thereabouts uh yes mr chair i will uh await for the directive of the office of the [30:27] president if the if if the uh uh exemption from excise tax will also cover those uh inventories already here [30:36] in the philippines yeah but what we're saying is we have we're going to be here the entire day so [30:43] many of my colleagues have taken the position that we want the president's decision at least i'm sure [30:49] he wants it to be implemented and felt by the public soonest yeah god so ang tanong namin parati [30:56] janice begin yo kamin yung categorical answer within the day kung bakit siya administratively not feasible [31:03] uh we will do your honor okay maraming salamat before we open the two questions can we now call [31:12] on the will the dep dev have a presentation good morning good morning mr chair and members of the uh [31:22] lead committee i am joseph capono depender secretary our secretary is likewise attending the concurrent [31:31] protect meeting in the senate so he sends his apologies and greetings yes uh mr chair we have [31:37] prepared a presentation material but however it will not only talk about uh current measures and updates [31:46] regarding the energy sector but all of the other interventions of the government so if the chair [31:53] would please allow us to present how long how long is the presentation uh we have we have 10 slides uh [32:02] your honor 10 10 or so slides go ahead uh with the music uh docoy madam president is also from the [32:12] up school of economics so we will allow him if that is all right madam president huh okay go ahead uh [32:19] user thank you uh mr chair okay uh can we have the slide yeah okay so um next slide is is that the the [32:30] secretariat of the uplift yes uh we are the secretary of the uplift go ahead go ahead yeah so uh what [32:39] we're going to present here is a summary of all the uh current intervention so far and the plan [32:44] interventions of the of the government in so far as addressing the current crisis that we are now [32:50] we're now facing uh the measures uh are all geared towards achieving uh the desired outcomes as uh [32:57] splashed on the screen among which of course is ensuring that domestic energy supply is uh secured [33:04] and that we have uninterrupted the delivery of uh services stop for the moment let me ask our technical [33:10] people to just put the slide not the person talking anymore because we see them naman so we have a [33:15] clearer vision because my eyes are not as clear as uh uh kong pipito alvarez go ahead thank you mr [33:24] chair so uh again uh some of the measures are uh geared towards ensuring that uh basic public services [33:33] especially uh education health and uh those concerning uh social protections are continually delivered [33:40] the other one the other one is that we want to ensure that economic activities goes on how we don't [33:45] want uh everything installed despite despite the crisis and then we want to protect and promote as [33:52] well the welfare of all citizens especially uh the vulnerable filipinos next slide this is the uh [34:03] framework underpinning the all the different measures that the government has in place or will put in [34:09] place uh so far uh it outlines the measures the government will implement or will has already [34:16] implement and the framework includes interventions to ensure government service continuity particularly [34:23] services to our vulnerable fellow filipinos we will also pursue measures that facilitate business [34:30] continuity including the transition to new business models by accelerating development adoption of energy [34:37] efficient technologies the service and business community is underpinned by measures ensuring energy [34:43] security digital connectivity and transport availability we will implement this short-term and long-term [34:50] measures guided by principles of good governance while ensuring fiscal prudence in the next few slides we [34:58] will show the details however these are still very preliminary and we'll keep on revising updating them as the [35:07] uh crisis in the middle east unfolds and affects our domestic economy uh with regards to the interventions [35:16] geared towards ensuring uh transport availability we have a quite a number of ongoing ones including [35:24] the fuel subsidy service contracting program and financial assistance to pubs including the tuloy pasada [35:32] ix for pv drivers fuel subsidy libring sakai and then as mentioned earlier uh also the suspension of excise [35:41] stocks on fuel products a fair discounts on trains is also being implemented uh as well as ensuring [35:49] continuity of marine marine transport uh reduction of fees collected in in airports and fuel shortages [35:58] uh will also be uh will also be uh implemented among the long-term measures uh we want to expand the expand the ev ecosystem [36:07] and encourage its wider use next slide sorry and allow the use of other modes of transportation through policy [36:16] and uh infrastructure next slide uh with regards to uh the agricultural sectors our interventions or measures [36:29] are geared towards ensuring stable food supply and affordability by supporting our farmers and fisher [36:36] folks uh ongoing interventions include fuel subsidy and financial assistance of farmers and fisher folks [36:42] and you could see there the amount uh already uh earmarked for that uh intervention another type of [36:50] interventions uh include logistics support the transport agricultural produce to consumers and providing [36:57] inputs support the farmers and fisher folks especially with regards to access to fertilizer um next slide [37:06] we are also adopting measures to uh strengthen our uh or enhance our energy security through supply [37:16] stabilization price reducing measures and demand management in addition to securing uh oil supply through uh [37:24] continued the collaboration with our uh oil uh oil uh export uh exporting country partners we're also monitoring [37:36] against hoarding profiteering and uh possible uh pollution uh the government has already uh installed uh [37:45] implemented its own energy savings measures and we're also going to promote similar measures for wider [37:52] adoption in the rest of the economy staggered implementation of fuel price increases will continue and as well as securing [38:02] electricity electricity supplies our proposed measures under considerations include the importation of biofuels [38:11] also building strategic fuel reserves and possibly allowing the temporary use of lower standard fuels and lifting of [38:21] the coal moratorium as well as accelerating energy source uh diversification next slide [38:31] we have also bundle of measures geared towards uh protecting the welfare of our ofw who wish to return here in [38:41] in the philippines in addition to continued discussions with the iran iran government to ensure the safety uh [38:50] uh passage and repatriations of our fellow filipinos in the in the middle east we also have uh measures [39:00] that uh are geared towards providing assistance to ofw's once they land here in the philippines and this [39:07] include the legal assistance fund emergency repatriation programs and alagang o wwa uh initiatives [39:16] there's also by any hand possibly by the balikbayang manggagawa program to ensure that they can find [39:22] the jobs easily once they are uh once they arrive here in the philippines additional measures for review uh [39:32] well this is about a ban on the deployment of migrant workers to iran israel and gulf countries while the [39:42] crisis is still ongoing or until it's safe to deploy them there again the next two slides uh we provide [39:53] some preliminary estimates of the budget requirements for the different measures over the next three [39:59] months and also for the next half of the of the year uh please note that these are very preliminary and [40:08] these are uh the numbers may still change uh within the week as we uh finalize the details and scope of [40:15] the various uh interventions i just mentioned earlier so the estimated cost of providing uh critical [40:25] support and relief measures for transport sector will amount to 105 billion pesos for uh three month [40:34] scenario meaning the period april april to june of this year and if the crisis extends to the rest of [40:41] the year we will need another 230.5 billion pesos to cover the additional funding requirement for uh [40:51] july to december of this of this year so you could see there the different breakdowns of uh funding [40:57] requirements by uh specific transport support uh intervention next uh slide uh with regards to [41:10] security uh the estimated uh amount required for the three month period covering april to june 20 [41:17] april to june 2026 is about 44.1 billion pesos and another 88.1 billion pesos should the [41:26] crisis extend to the second half of half of the year again we provide there the uh funding requirements [41:34] for each uh scenario by different types of uh full security uh related interventions now my last slide [41:44] just provides us the uh indicative 2026 funding picture based on the estimates of the dbm so the dbm has [41:55] identified about 238 billion of relevant programs from the fy 2025 and continuing appropriations [42:04] and the fy 2026 gaas including the ongoing programs and projects discussed in the previous slides such [42:14] as the fuel subsidy programs service contracting ix and path among others as of april 1 around 125 of the [42:23] said amount has already been released and we expect the remaining amount of 113 to be dispersed in the [42:30] coming year in the coming months that would be all uh mr chair thank you thank you very much uh thank you [42:37] very much uh uh yusek kapuno the the expectation of course uh as the secretariat of the uplift uh [42:47] uh uh is it a committee is it a task force so what is uplift uplift is a special uh committee created for [42:58] the purpose of uh consolidating uh all the different measures of the government so the expectation of [43:05] congress is that one of the main outputs coming from uplift is in fact a laundry list of things that [43:12] are needed coming from the legislature and we want to be able to see in terms of i mean obviously correct me [43:20] if i'm wrong the direction really is in terms of actual interventions that are immediate the purpose [43:26] really is to control inflation meaning addressing first our transportation sector and at the same time [43:33] addressing the the industry that affects overall inflation which is food [43:39] and also ensure that uh the uh purchasing power of the vulnerable sector is secured not only the [43:50] inflation but also their ability to to buy uh you know basic necessities yeah but yeah purchasing power [43:57] is affected by inflation so they come together in a sense yes so so yung pangalawang expectation [44:03] din ho ng kongreso is we want a specific road map in terms of because with the the objective of course of [44:10] the speaker is first is we want to be able to address immediate needs of controlling inflation second is [44:18] really on resilience so yung inaasahan din namin sa inyo is is to present to us what is that energy mix [44:28] at least on the part of of our energy sector is what is the desired energy mix to make it more resilient [44:35] when oil shocks happen yan hindi walang nakakapag present sa amin eh pangalawa po is for transportation [44:42] what is the desired mix because right now you only have one or less than one percent that's electric [44:48] everything else is petroleum based so how do you what is that mix that you desire over whether it's a [44:55] medium term development plan or the like so that we get a list of things that are needed in terms of [45:02] incentives required tax breaks budget budgetary support to be able to reach these objectives [45:10] so that the economy becomes more resilient and less susceptible to shocks from oil price hikes yan [45:18] ang expectations namin dito that's what we want to be able to do come by the first week of may [45:24] so that we can have an omnibus legislation not just a stopgap activity yun ang inaasahan namin sa inyo [45:34] and on on on the implementation side on the ayuda which we will talk about later the expectation of [45:40] congress also is that the executive be able to be able to present to us a long-term plan on how to [45:48] mechanize uh itong ayuda programs natin such that we can do it electronically we can target it in the [45:56] most appropriate way so we can talk about that later with the secretary gachalian but having said that [46:04] before we open we will now ask our private sector partners who are here particularly from the petroleum [46:11] industry may we call on uh but before you do so kong mark i would like uh like to recognize kong mark [46:19] in berga yes thank you with your permission uh chair miro uh may we acknowledge the presence of the [46:27] honorable ismael toto magnudadatu the honorable cherise anne hernandez the honorable jose arturo jojo garcia [46:34] the honorable nataniel educado the honorable lose bong tevez jr the honorable rolando belleriano and the [46:42] honorable paulo marcoleta thank you mr chair maraming salamat may we now call on from the independent [46:50] philippine petroleum companies association may we now call on miss miss tanya samiliano its president [46:59] is your present correct would you like to take the microphone and do you have a presentation madam [47:06] wala okay this is a list given to us by the by our technical staff from but at least you're [47:15] present that's important from the philippine independent uh from the philippine from the pip [47:23] philippine institute of petroleum mr rafi capinpin executive director are you present do you have a [47:34] presentation mano none uh from the lpg ia mrs mercy pastrana its executive director are you present and may [47:48] we of course recognize our former colleague our petroleum expert uh during the 15th 16th and 17th congress [47:56] uh the honorable former congressman arnel t uh magandang uh umaga uh pong arnel meron ka ba presentation [48:06] go ahead please take the floor arnel i think you're used to this mic because you were in the [48:12] minority for six years but go ahead use uh rostrum number nine can we ask that the mic be turned on [48:22] pong arnel would you mind just taking the seat behind congressman uh secretary sulidum take your time [48:39] thank you mr chair and to my former colleagues good morning i just want to give some updates in lpg [48:47] um industry um well when the conflict started last uh february 28 we are just lucky that we are on the [48:56] summer season because uh summer season our demand for lpg reduced by 15 percent in the normal uh any [49:05] normal months um this next uh three to four months from march april may and half of june we will have a [49:15] less demand for lpg because of summer season the consumption is lower by 15 percent now um to give [49:24] some uh inputs the full uh philippine market based on our population 50 is only using lpg 50 is using [49:36] still indigenous material like firewoods and charcoal 65 of the population in the zone is using lpg the 35 is [49:46] still using uh indigenous material like charcoal and firewoods visayas is only 25 to 30 percent usage [49:55] of lpg based on their total population and the majority is still using firewoods and charcoal [50:02] in mindanao it's only 15 to 20 percent is using lpg so when this uh um conflict start the impact for [50:13] lpg consumer is not that much because anytime like for example today for the last 40 days we have [50:23] experience comparing last year same month to this year our lpg consumption was reduced by 30 percent [50:32] because majority or many of our users of lpg shifted to charcoal and firewoods especially in the province [50:42] our um daily consumption for lpg or monthly consumption for lpg during the normal days is 150 000 [50:56] uh metric ton so uh as of now we are reduced by 30 percent and our current supply inventory is around 40 to 45 [51:08] percent inventory um in in our in our storage and uh those are in transit so um when you look at the [51:22] impact for our uh price from the situation during the normal days of 1 100 per cylinder of 11 kilogram [51:37] which is 80 percent of our consumption is on that size of 11 kilogram cylinders um it increases to 1 600 [51:49] because of the two component number one is because of the contract price was increased because of the [52:00] declaration of saudi aramco of the 243 dollars increase last month uh comparatively um this month [52:08] comparative to last month and the biggest impact is the shipping cost the shipping cost contributes [52:18] almost 30 percent of the cost of the lpg because the total increase in in lpg from 1 100 to 1 600 is [52:29] just 45 percent 15 is the impact of the lpg cost that declared by saudi aramco and the 30 percent is the [52:37] shipping cost for two reasons the crude oil increase by 150 to 160 percent second the the cost of risk [52:49] by the shippers because almost all insurers cancelled their coverage to those ship shipments coming from [52:58] uh the strait of hormones so the risk is there and the current supply that we are getting right now is [53:06] coming from canada us mexico africa which is uh in terms of distance if we pick our pick up our product [53:17] from middle east it's around 13 to 15 days if we go to the united states and canada it will reach to 48 to [53:24] 60 days uh voyage so that the reason why the price is too high but i can only say that we can manage [53:36] the needs for our demand and the question if let's say the excise tax will remove will be will be removed from [53:49] the tax um i can say that our industry can immediately implement the next day the three pesos excise tax well um i [54:00] have explained this uh during the malacanang meeting that um kung anuman yung mababawa sa excise tax at [54:10] mayroon pa kaming existing uh uh inventory we can recoup that once the binalik naman na excise tax [54:18] sa susunod ng mga panahon dahil yung aming available inventory during that time has no excise tax so ganun lang naman [54:25] ka simple yan so i don't think there is should be a debate um on how we implement the the reduction [54:33] of the excise tax on the pump price or in the cylinder for the consumer so that is my short [54:41] manifestation mr chair thank you very much can i can i just uh ask again so it can be reiterated [54:48] so it is the position of the lpg industry that once an excise tax is suspended by a declaration [54:57] from the president to an executive order the following day your retailers can actually [55:02] implement the suspension meaning the removal of the that's four fifty four four pesos fifty cents how [55:09] much is the exercise it's three pesos per kilo so it can be immediately removed from the selling price [55:17] yes uh well that is for our association which are covering around fifteen to twenty percent of the [55:23] total market uh in uh total market share uh but i said it is not that difficult for the industry because [55:33] our price adjustment only happens once every month unlike the gasoline and diesel that every week so [55:39] we know what is our inventory uh per month or what is our caring or existing inventory so we said that [55:52] our position my position is if we will be reducing the excise tax immediately if today we will receive the [56:03] the the declaration of uh uh cancelling the excise tax we can immediately implement it tomorrow because in the [56:12] coming um months if that excise tax will be returned then our inventory existing inventory will also have no [56:21] excise tax so it should not be a reason for for us to to say that there is a difficulty in how to implement [56:34] it that's my position mr chair uh thank you very much uh yeah the department of finance should we be [56:41] listening closely to this can we ask the philippine institute of petroleum on this matter on the [56:48] ability to actually implement the suspension uh the following uh day from the announcement of the president [56:56] because this suggestion actually came from some of your members uh in all frankness so please take a [57:02] sit down before uh beside the congressman t may i recognize also our uh secretaries who have [57:11] arrived the secretary uh henry aguda is here good morning my kababayan from ltfrb uh attorney vigor [57:21] mendoza uh good morning go ahead good morning mr please identify yourself and you're in so for the [57:32] stenographers go ahead okay my name is uh rafika pinpin i'm the executive director of the [57:39] philippine institute of petroleum okay now with regards to the suspension of the excise tax to be [57:46] honest up to date we don't know what the direction or the recommendation of the dbcc is no so we have [57:55] been asking the department of energy and uh it's either they don't want to reveal or they don't know as [58:03] well so is it a reduction or a suspension on what products we don't know so having said that [58:11] there are two options no the first one is the immediate implementation of the reduction or [58:18] suspension i think uh executive secretary recto prefers that because he wants for better discussion [58:26] let's just consider it suspension okay suspension two options first is immediate effect no so i think that [58:38] it is the preference of uh the government because they want it to be felt with the consumers right [58:44] away now we probably need one or two days just to develop the implementing rules and there is a meeting [58:53] already tomorrow to discuss that because number one they need to reckon the existing inventory of the oil [59:02] companies uh and also to develop the the mechanism whereby it is refunded now the the difficult part [59:11] is how do you reckon the inventories of the gasoline stations the 14 000 gasoline stations the second [59:19] option which is not going to be very popular and which i think will not be implemented will be to draw [59:26] down the inventory now considering that there are significant inventories in the market and then before [59:33] the the consumers feel that that will be about 30 days so we're looking at the immediate suspension so [59:41] when you talk about drawdown you're referring to the suspension only applies to the new inventory that [59:47] arrives correct yes yes your honor yes the the position of uh congressman t is also very educational such that [59:56] you know in the end uh once the suspension is actually lifted let's say in a month two months three months [1:00:03] by that time you also have available inventory already in the market that is excise tax free so [1:00:11] even out of course you know it's easy for us to say that no but in the end there is a seeming evening [1:00:18] out in terms of uh because the supply will be the same consumption will will be the same in fact [1:00:25] i think there's this there might be a slowdown in terms of consumption which will actually favor the [1:00:30] oil companies so even without the reckoning of the books whether some petroleum have been the subject of [1:00:38] excise tax or not that that seems uh valid yeah for the reckoning of the oil companies the oil companies will [1:00:47] submit a weekly inventory report every saturday to the doe so our thinking is that can be used already [1:00:55] so we don't need to develop the mechanism for that yun mga gasoline stations on small businesses that may [1:01:04] be an issue that needs to be talked about i cannot give you details because the meeting set by doe is for [1:01:10] tomorrow pa to discuss that you see that's too late we should be coming up with these guidelines as [1:01:17] soon as the announcement is made we implement immediately but at least we're hearing from the [1:01:21] philippine institute of petrol you represent how many of the who do you represent uh petron shell chevron [1:01:30] ptt and isla petroleum how much of the market do you i estimate it's about less than 50 na lang siguro [1:01:39] the independents uh are bigger i would think 50 50 roughly so you're like 50 percent roughly yes so you [1:01:47] dominate the market uh that's a compliment i we're not sure we're not sure anymore okay so can we hear from [1:01:56] the independent um sir just stay there can we hear from the independent uh miss uh tanya samiliano [1:02:06] how about go ahead hi sir morning please tell us uh for the our stenographers my name is tanya samiliano i'm [1:02:15] the president of the independent philippine petroleum companies association you represent who who who composes [1:02:22] that it's composed of insular oil petrogas ventures fill oil sea oil uni oil and eastern petroleum metro [1:02:34] oil how much of the market uh do you have based on the latest uh figures from the department of energy [1:02:42] we're around 34 percent of the market okay what does 34 percent of the market say relative to the 5 000 [1:02:48] retail stations of the 14 000 go ahead go ahead so our concern um is the same we can implement it [1:02:56] immediately so long as the irr can also consider our um existing inventory meaning the volume that's [1:03:06] still there prior to the implementation of the suspension of the excise tax so um so when you see [1:03:16] would it be acceptable to you that you declare today under oath that this is the inventory that we have [1:03:21] uh this is the amount of excise taxes that have actually been paid by the respective companies we [1:03:27] are going to sell them without excise tax but we need to be given credit for the taxes that we have [1:03:33] advanced i'm about correct sir so we already have 85 percent of the market saying that they can implement [1:03:41] immediately huh am i correct uh arnel i mean it's very clear am i correct can you uh kong ardell what do you [1:03:51] think is the hesitation of the department of finance when it comes to the immediate implementation what [1:03:57] we can um guarantee this committee mr chair that uh once the suspension will be will be given that [1:04:05] order the next day we can implement it so there should be no hindrance anymore i think that uh like i [1:04:13] said uh we will give you until end of the today to come up with a an answer or at least a policy direction [1:04:20] because i am i am we are made aware that the president is about to make an announcement uh [1:04:26] relative to the suspension of the excise tax uh yes your honor um and within the day will uh give you [1:04:34] the uh policy direction music pasensya ka na pero ito kasi yung minsan pinagtatakahan namin na parang hindi [1:04:42] kayo immediately nag-uusap so the sense of urgency that i know you guys are swamped but obviously [1:04:49] the the the requirement of our people is so much more uh than regular times it's extraordinary so it [1:04:56] requires extraordinary effort and work and extraordinary risk even on the part of government [1:05:03] naintindihan po namin yan mr chair so sige maraming salamat since the pip is already seated uh [1:05:12] mr kapinpin since you're here already and before we open it to to our colleagues can you educate us [1:05:21] relative to pricing you tell us very very simple simple lang ang tanong parati ng ating mga kababayan [1:05:29] bakit binilipunin nyo bago maggera at less than at less than at sixty dollars per barrel bakit pag [1:05:39] binibenta ho ninyo after the war ay doble ho yung presyo ano ba ang dahilan dyan paliwanagan [1:05:46] ganyan po kami kung bakit nagkakaganyan all right uh i think many many have attempted to explain that [1:05:54] but let me try my best pwede ban tagalog okay ang philippine oil industry po what they practice [1:06:02] is week minus one pricing so what they do is that they get the five day average the trading average of [1:06:11] last week and then they compare it with the five day trading average of the previous week so a week [1:06:19] minus one tapos yung delta o yung difference nun yun ang ina-apply dun sa week ngayon so [1:06:26] anong pakipaliwanag ha pakipaliwanag ulit sige nga ulit so so yung price rollback ngayon [1:06:34] bigyan nyo kami ng halimbawa ah wala kong wala kong maps number ngayon eh so di ba kahit [1:06:41] ano lang para para na i-illustrate yung relative delta whether to the sige po okay so okay meron [1:06:48] pala sorry galing pala sa do ito so last week ang average ng dubai is 109.22 per barrel dubai and [1:07:05] then yun the week two weeks ago yun may holy week 117 yan 117 so kinukuha lang yung delta yun yun [1:07:16] difference nun tapos yun ang ina-apply na movement so so for example galing ko sa doi yung number ko last [1:07:25] week ang average ng diesel is 228.91 per barrel okay the week prior to that was 256 [1:07:37] 0.87 so ang difference po nun is 27.955 us dollars per barrel so pag kinumpute [1:07:51] po yun to convert to pesos into liters parang lumalabas yan mga 10 to 12 pesos ang rollback [1:08:01] this week parang ganon so yun difference yun difference lang nung week ago versus the two weeks yun yun [1:08:11] yun ang ina-apply for the current week so ano po yung pinag-uusapan dito parati na ang pricing is [1:08:22] based based on replacement cost okay so yun replacement cost pricing kasi is yun nga yun delta na [1:08:29] gagamitan o yun difference so ina-apply na ngayon yun ang palaging batikos eh dati nyo nang binili [1:08:37] yan eh bakit mo i-apply agad yan replacement cost pricing is not invented here no it's a [1:08:44] uh it's it's an accounting practice current cost of accounting yan eh uh current cost of supplies [1:08:51] parang ganyan it is used for commodities no it is to ensure that you are able to buy [1:09:00] replacement for the stocks that you sold so the opposite nyan is historic pricing you price it based [1:09:10] on magkano mo binili binibenta mo based kung magkano mo binili ang magiging problema [1:09:16] ho noon on your honor is that baka hindi ka na makabili ng susunod na stocks mo so mr kapinpin [1:09:23] linawing ko lang ha yes sir so uh provide mo kanina yung delta pricing na sinasabi mo pero pag [1:09:30] sinabing replacement cost para malinaw ang sinasabi kasi na marami binili ninyo at 60 pesos [1:09:37] salimbawa lang ha for lack of a better example pero dahil pumutok yung gera nagiging [1:09:42] 80 nagiging 85 siya dahil hindi kami makakabili ng panibagong supply kung baga sa tindahan nagbebenta [1:09:51] ka ng bigas binenta mo ito nabili mo siya nga at 45 pesos per kilo pero ang merkado after two days [1:10:00] naging 80 pesos per kilo kailangan nyo mag adjust kasi hindi na kayo makakabili ng panibagong supply [1:10:06] kung ibibenta nyo at 45 correct you're on ma tama kumita kami 45 binili binenta namin [1:10:12] 50 kumita kami ng limang piso kada kilo kumita kami doon sa current inventory ang problema is [1:10:20] anong ipambibili namin eh 80 na ngayon tama ba ko so that's why that's why replacement cost [1:10:28] assure somehow a level of continuity of the inventory because yung high prices is a very big [1:10:36] problem pero yung scarcity meaning mas mabigat na problema yun ang sinasabihin natin [1:10:44] correct your honor and also if if pag inisip nyo no so pag pag ginawa mong inventory [1:10:51] based pricing yan or historic cost pricing napakagulo po ng in ng competition kasi kunyari ako marami [1:11:00] akong tanki mababa ako nabili adi ang baba ng benta ko kawawa yun iba hindi sila makakabenta pag [1:11:08] pag bumaliktad naman yun at maliit lang yung tanki ko di ba ang bilis kong magpalit ng [1:11:14] inventaryo pwede akong ganansya pwede akong luke di ba so pero yun ang essence [1:11:21] ng competition eh di ba na ibig sabihin yung kaya magbenta ng mura yun ang ini encourage [1:11:26] mo in fact nire-reward mo yun eh kasi eh nakikinabang doon ng taong bayan so panghuli [1:11:31] ko na lang kasi kaila gusto ko rin buksan sa iba so in a sense it's like a liquidity issue [1:11:37] meaning na i-benta nga namin kumita kami doon pero hindi namin makakabila so yung isang [1:11:44] katanungan dito is to be able to buy the new stocks na mas mahal hindi ba kayo open dun sa [1:11:50] magkaroon ng loan program meaning nang gagaling sa gobyerno to provide you some liquidity so that [1:11:57] you're able to buy it at that amount because anyway be that as it may what you will just transfer to the [1:12:03] public is actually the interest cost and the cost of administering that new loan to be able [1:12:09] to purchase those new stocks open ba diyan ang industriya uh yeah maybe i i cannot speak for it [1:12:19] uh for them right now maybe that needs to be discussed but yeah maybe that is an option for [1:12:24] consideration uh mr kapinpin sabihin mo kung hindi pwede o pwede based on your experience kasi these [1:12:31] are things that we're looking at meaning in terms of mandating the banks government banks to actually [1:12:36] provide discussion so you talk about land bank so that they can lend because ultimately ang magiging [1:12:43] beneficiary are also farmers di ba so yeah we're trying to find ways di ba yeah i'm just thinking [1:12:48] aloud your honor if if that is going to be done of course obviously it's it's an idea no do we do that [1:12:54] every week kasi every week ang ang presyuhan eh actually every day ang presyuhan di ba so [1:13:01] uh well it can be based on on your purchasing schedule di ba i mean you will be treated by the [1:13:09] banks like any commercial transaction but what is important is that it now allows you to purchase new [1:13:15] supply without having to pass that to the to the uh consumer yan yung pinag-uusapan natin mr kapinpin [1:13:28] uh yeah if if there's going to be external financing i think i've uh i think i read somewhere [1:13:36] i do not quote me on this i think new zealand did something like that they offered oh no sorry sorry [1:13:42] this is for charging stations pala sorry okay we will have last one last resource person and then [1:13:48] we will open it to uh maybe call on uh attorney jay layug are you attorney jay layug are you here go ahead [1:13:58] attorney layug um for your present you have a short presentation am i correct go ahead you take the [1:14:05] microphone uh attorney live used to be an undersecretary of uh of energy he's now one of the [1:14:13] advocates please state your name and then the organization you represent for our stenographers [1:14:17] go ahead hello good morning mr chair um i'm jose m like jr i'm the executive board member of the [1:14:30] philippine energy research and policy institute or perpi it was a law created by center wingachalian [1:14:37] and once upon a time mr chair as i shared with you i served as undersecretary during the time of [1:14:43] secretary renee almendras and shared with you our experience in 2011 as well because again the the oil [1:14:52] crisis always happens whenever there's a problem in the middle east so what's going on now is no different [1:14:58] from 2011 except that the magnitude of the war is bigger this time in 2011 following what happened [1:15:08] we sat down with the transport groups and with oil companies and following the the pricing mechanism [1:15:16] under the ra 8479 which provides that we are supposed to calculate and reflect in the retail [1:15:24] prices of oil uh prices of oil based on international benchmarks and in the law that was passed way [1:15:32] back in the 90s 84 which is 8479 we use the mean of plat singapore and in agreement together with the [1:15:41] transport sector and the doe and the oil companies uh we implemented a week-on-week price movement [1:15:50] no so yung paggalaw po ng pressure na lang is ever since our time even before our time [1:15:56] i week on week basis no and pinapaliwanag po kanina ni mr kapin pin antitingnan po natin yung components [1:16:05] of the maps in the previous week you look at also the foreign exchange of the previous week at may [1:16:13] formula po tayong tinitignan for the entire week we we will calculate that and compare it to the [1:16:19] previous week yung week on week po yun po yung i-reflect namin ngayon every week moving forward so yung [1:16:27] halimbawa po yung movement for tomorrow yan po ay a result of the oil prices last week compared to the [1:16:35] the previous week yun na po ang nakagisnan ng doe and in coordination with the oil companies and the [1:16:42] transport sector yun po yung tinitingnan namin every week so every week din po ang doe nag-announce po yan [1:16:50] ng more or less the range the acceptable range uh based on the benchmarks no using the mean of flat [1:16:57] singapore so kung may may uh meron hong isusulong na amendment ng oil deregulation act i think po kailangan [1:17:06] po tingnan kung ano po yung magiging batayan ngayon ng price of oil no uh because right now we are just [1:17:13] using the uh automatic uh price mechanism under ra 8479 uh thank you uh uh attorney jay so tama ba na [1:17:27] um ibig sabihin itong rollback bakit ang observation ng mga kababayan natin kapag nagtataas ang [1:17:33] bilis pero kapag bumababa ang ang bagal so based on what uh uh mr kapin pin is saying uh no it [1:17:41] actually follows a specific formula is that correct well ayon po sa datos ng doe and based on our [1:17:48] experience nakamonitor naman po ang doe so yung movement po every tuesday ay nakabase dun sa oil price [1:17:56] index no uh which we are using in this case mean of flat singapore so tinatawagan [1:18:03] naman ho ng doe ang mga oil companies pag halimbawa nakita nila na sandali hindi [1:18:08] masyadong mataas ang iyong tinaas o baliktad no hindi masyadong mababa ang iyong binaba no [1:18:15] kasi ho dun sa ating formula may arrange ho talaga ng price movement so kung hindi ho akma dun sa [1:18:21] calculation ng doe tinatawagan naman nila yung oil companies at sasabihin kulang ho yung pagbaba no so [1:18:27] experience ho namin wala naman ho outside of the range ang nangyari bakit pare pareho to the [1:18:34] decimal ang change ng price because of that formula well hindi rin ho accurate na sabihin na pare pareho [1:18:41] sila ng presyo no if you look at pricing in different areas iba iba ho siya no ang [1:18:48] magkakapareho yung magkakatabi kasi yun ho yung nagtitinginan sila kung ano ba yung presyo [1:18:54] niya kung masyado mataas ibababa ako yung akin no so yung magkakatabi ho yan magko compete in the [1:18:59] same area pero yung iba't ibang lugar po iba iba silang presyo and even regions po iba iba po yung presyo nila [1:19:06] i have more questions but i want to open it to to our uh members um the share persons are free to [1:19:15] intercalate uh should you wish no um pong mark meron ka ba bang mga bagong kasama natin dyan [1:19:22] yes uh mr chair uh we would like to acknowledge the presence of the honorable uh [1:19:26] honorable uh yonel sinisa the honorable edgar erise the honorable milagros aquino magsaysay [1:19:33] and the honorable chair chino miguel almario as well as the honorable death escudero that's all mr [1:19:40] chair thank you uh we also have 88 members on zoom we will recognize you a little bit later [1:19:46] with the apologies may we call on uh our member of the minority uh to do his uh interpellation we now call [1:19:55] on the honorable uh antonio tonchi tinio of uh act teachers uh party list uh go ahead uh [1:20:02] tonchi you have five minutes maraming salamat uh mr chair well una yung tungkol dito sa replacement [1:20:10] cost so pinaliwanag po nung uh oil industry yung konsepto ng replacement cost pero kanina kausap [1:20:18] ko po si yung dating colleague natin si congressman arnel uh congressman arnel uh [1:20:24] uh dinagamit din ba itong replacement cost sa inyong industriya lpg well mr chair the difference [1:20:33] from the diesel and gasoline with lpg is we only move our price uh every month uh it is based on the [1:20:42] pronounce announcement of saudi aramco um there is slight difference uh this past two months because of [1:20:50] the conflict that dati-rati yung premium which is the shipping cost it's a uh one-year contract [1:20:57] yan eh it doesn't change uh for the whole year only the we call it cp or contract price of lpg which [1:21:05] saudi aramco will be the one announcing it yun lang nagbabago um sa ngayon ang kagandahan maybe because we [1:21:14] have a regulation in terms of permits and facility right now in lpg the department of energy can inspect [1:21:24] can mandate us to submit inventory and even submit the bl the bill of lading of our incoming vessel for [1:21:33] them to give us the approval for us to transact with the do with the bir and uh customs so siguro yun [1:21:42] ang difference namin at uh mas madaling i-monitor yung aming uh pricing pagdating kasi sa every [1:21:50] month isa lang ang pinagsinusundan naming computation okay pero yun nga simpleng sagot [1:21:57] rate na nag-a-apply ba yung replacement cost pricing sa lpg sector well we we don't call it replacement [1:22:05] uh pricing or uh replacement costs ang samin lang if um we have ito naman derechahan pagka kami [1:22:13] inabutan ng mataas na inventaryo at bumaba ang presyo last next month eh risk namin yun [1:22:19] ayun so in other words so pag tumas naman gain namin yun basically ganun lang naman [1:22:24] so ang punto po yung sa oil replacement cost ang model pero sa lpg hindi so sinabi nila pagka [1:22:33] binili nila ng mataas pero buiglang bumaba ang presyo risk sabi mo risk yun kailangang kailangang [1:22:42] ibenta nyong mas mababa tama po ba tama yun because we have to reflect the cp price that the [1:22:47] saudi aramco will be announcing every end of the month that will carry the next month so risk nila yun sila [1:22:53] ang kakarga kung may loss tapos babawi na lang sa susunod tama po ba tama yan okay so una yun [1:23:00] po ang malinaw no hindi po universal itong model ng replacement cost no hindi so sabi sa kaso ng lpg [1:23:10] kung kung malugi sila dahil sa biglang movement ng presyo karga nila hindi ipapasa hindi i-advance [1:23:18] na sisingilin sa publiko pangalawang punto mr chair very revealing din yung [1:23:25] sinabi nung si mr kapimpin ng oil industry sabi nila well kasi replace kasi kung historic cost [1:23:38] ang susundin natin magiging anong sabi nyo sir magulo yung paki ulit yung local maaring magka maaring [1:23:47] magulo yung competition meron uneven yung playing field pero magiging magulo yung competition ibig sabihin [1:23:58] pwede naman kaya lang nagkasundo ang industriya na gamitin natin tong replacement cost model no because [1:24:08] well bentay sa inyo bentay sa mga players pero disbentay naman sa publiko yun ang [1:24:18] punto natin mr chair so again i think yan ang pinaka isa sa mga hinahing ng publiko dito sa [1:24:29] replacement cost model una oil industry lang po ang gumagawa niyan at pinakita po sa sektor ng lpg [1:24:37] ah ibang modelo essentially historic cost para ganon di po ba okay so yun po yung una no so [1:24:46] dapat siguro tignan natin muli at ano ang pwede gawin ng doe kaugnay nito um pangalawang tanong [1:24:57] ko po ay actually sa well maybe sa department of energy ah kaugnay po sa implementation ng state [1:25:04] of national emergency with relation in relation to the price act um kasi sabi po sa [1:25:11] price act kapag may state of national emergency automatic po ang price control sa mga basic [1:25:20] commodities and that includes ah lpg and kerosene hindi po ba the automatic price freeze actually no [1:25:28] unless ah declared otherwise by the president no ngayon nag declare po ng ah national energy [1:25:38] emergency noong march 24 with eo 110 ah tapos sa presentation nyo kayo na rin nagsabi ang biggest [1:25:46] consumer price shock ay sa lpg noong buwan ng abril so ang tanong ko po bakit ipo hindi tila hindi [1:25:56] umepekto yung automatic price freeze para sa lpg at kerosene di ba yun ang batas [1:26:05] can i ask uh yusek mario to answer go ahead yusek go ahead thank you very much what happened to [1:26:27] your glasses i'm allowed by the doctor okay go ahead go ahead go ahead answer the question please yeah [1:26:34] thank you very much for mr chair and thank you very much ah ah honorable tino the implementation po kasi [1:26:41] noong ah ating ah state of energy bay a emergency hindi kagad siya nag-trigger noong ating price [1:26:49] ah ah so yun pong impending na increase that started po noong ah april one kasi monthly yung ah [1:27:00] adjustment of prices ng lpg yun po ang kaibahan ng sakerosene na well identified po kagad yung mga incidents [1:27:11] na pwede siyang i-apply like you po yung natural calamities thank you po ah yun nga po ang gusto [1:27:19] kong ilinaw nyo kasi sabi po sa batas section 6 automatic price control unless otherwise declared [1:27:26] by the president prices of basic necessities that includes kerosene and lpg in an area shall [1:27:35] automatically be frozen at their prevailing prices or placed under automatic price control whenever number [1:27:43] two the area is declared under an emergency hindi po ba yung buong bansa diniklarang emergency [1:27:49] pangalawa una malinaw obvious naman ngayon meron po bang declaration ng presidente [1:28:00] na hindi isasama ang basic commodities ang lpg ang lpg at kerosene sa automatic price freeze meron [1:28:11] po bang po bang ganong deklarasyon ang presidente thank you very much again mr chair and honorable [1:28:19] for my own understanding for my own understanding po hindi po naglagay ng price freeze doon sa [1:28:25] ating ah ah issuance yung eo 110 with regards to price freeze eh hindi po kailangan ilagay dahil may batas [1:28:34] na eh di ba ang ang ang kailangan ilagay ng presidente kung ayaw niyang i-implement yung automatic price [1:28:41] freeze dapat sabihin niya ron na hindi mag epekto ang automatic price freeze para sa lpg at kerosene pero meron bang ganon [1:28:50] wala po hindi kayong sumagot meron bang exemption ang presidente as far as may understanding po [1:29:01] dun sa issuance wala po nakalagay wala nga po so bakit po hindi niyo pinapatupad ang batas [1:29:07] bakit po dapat naka price freeze or price control no so in other words dapat paprotektahan [1:29:19] automatically ang mga consumers dito sa ah sabi nga rito pinakamalaking price shock daw [1:29:28] sa mga consumers ay yung pagtaas sa lpg hindi po ba so mr chair yun ang yun ang concern natin merong [1:29:36] malinaw na provision sa batas eh nilalabag ng malakanyang ng doi ng president walang deklarasyon [1:29:46] ng presidente dapat may automatic price freeze ibig sabihin yung presyo nung mars ko dapat na natili [1:29:52] nasa 1-1 tapos nung abril sabi nyo naging 1-1-5 parang ganon kindly wind up [1:30:02] okay but the question deserves an answer sagutin nyo naman yung tanong yes po thank you very much [1:30:10] mr chair yes huwag na kayong magpasalamat diretsyo kayo parati siya sa [1:30:13] yes we will consult po with uh the concern ano kasi nag-implement talaga ganon while the [1:30:18] advisory comes from the department of energy the actual implementation po na ng price [1:30:23] please on the concern agency like for example the uh dti thank you po well okay mr chair so [1:30:31] we'll give you time later i think it's very important okay so yun lang po yung dalawang [1:30:36] punto mr chair na gusto kong hindi dito una yung replacement cost hindi po yan inevitable [1:30:42] kung hindi it's a business model na ina-apply ng oil industry at bentahe sila nakakalamang sila [1:30:50] dito dahil ah pinapasubsidize nila sa consumers yung pagbilisin nila ng stock ibang iba po ito sa [1:30:57] sektor ng lpg malinaw yung paliwanag hindi ina-apply yung replacement cost thank you very much we will take [1:31:05] note of that that's very very important very important revelation mr chair thank you um we now [1:31:10] call on uh congressman uh rupus rodriguez to interjection um with the indulgence of cong rupus [1:31:20] let's allow paulo what is the pleasure of congressman mr chair i just want to make a remark on your [1:31:27] earlier statement na kailangan pong mga agencies mag-usap-usap para po mas mabilis ang trabaho i'm [1:31:34] supporting you on that mr chair at ah if i may add also mr chair sinas andito naman po tayo kahit [1:31:42] ah kasagsagan ng bakasyon mr chair dahil masipag kayo alam ko may i appeal on the president to request [1:31:49] for a special session for congress para po yung mga pending legislation natin eh may pasa po natin po [1:31:55] sis kasi po hindi na po makaya na ng ating mamamayan yung talagang hirap ng pasahanin nila [1:32:01] ngayon marami pa akong nakausap ng mga chopper ng jeepney na nakagarahin na yung kanilang mga [1:32:07] jeepney dahil hindi nila kayang magpagas magpakrudo at mga pagsasaka po na hindi na po kaya yung [1:32:14] yung presyo ng fertilizer ngayon so kailangan po natin we should act post haste with the maximum [1:32:21] urgency para po maibisan po natin mabigyan ng remedy ng ating mamamayan mr chair just just my appeal thank you [1:32:28] thank you congressman paulo may we now call on uh congressman rufus rodriguez from the city of [1:32:36] golden friendship go ahead the congressman thank you mr chairman distinguished colleagues value [1:32:41] resource persons the republic act one two three one six was approved on march 25 and published by the [1:32:50] official gazette on the same day therefore it would have been effective on april 9 9 10 11 12 13 [1:33:00] five days mr chairman this should have already been first recommended by dbcc the energy department [1:33:09] and the president chair already suspended he has all the powers granted by congress and we are saying [1:33:18] that any delay mr chairman will make our people suffer especially the transport sectors and everybody [1:33:27] because of the rise of commodity prices so i'd like to know did we not consider this doe dbcc and the [1:33:36] office of the president that we are we are already five days not yet suspended when it could have been [1:33:44] done april 9 for our people mr chairman mr chairman go ahead please yeah first the uh doe uh the dbcc and the [1:34:16] office of the president we are holding all of you accountable for the suffering of the filipino people [1:34:23] which is now five days can you imagine lifting three pesos lpg lifting gasoline gasoline now is 160 [1:34:30] to 170 per liter i mean diesel 160 to 70 110 to 120 gasoline may we know use excellence please go ahead [1:34:43] thank you sir uh mr chair the doe has submitted their recommendation on the suspension of the excise [1:34:49] stance uh we had meetings at the office of the executive secretary since one and a half weeks ago sir one week [1:35:09] can we hear first from uh any any representative from the dbcc the dof sits as a chairman of the dbcc [1:35:16] go ahead uh your honor um the dbcc has already um um submitted their recommendation even before the uh [1:35:26] uh uh uh effectivity of the law uh to the office of the president the chairman so therefore you are [1:35:35] seeing that the president is at fault why we still don't have this uh suspension five days now [1:35:42] mr chairman dbcc energy can you answer that uh question uh you sec uh go ahead can you see [1:35:56] i cannot read your name music my apologies ligon ligon go ahead yes sir rolando ligon [1:36:01] uh when when did the law become effective uh april nine uh uh then uh uh uh just to ano [1:36:10] lampo mark sir uh db dbm dbcc is chaired by the dbm not by dof do we have a representative from dbm who [1:36:23] is from the dbm here please yes go ahead ma'am state your name for the record yes uh good morning i'm [1:36:30] marianne de la vega and i represent uh the dbm and we have um i think that you said de la vega correct [1:36:38] go ahead yes mr chair yeah mr chair we have already provided uh the recommendation to the office of the [1:36:45] president as far as the dbcc is concerned i think that was two years uh two weeks ago so what is [1:36:57] happening ma'am mr chair uh we will abide by what's the final decision of the office of the president [1:37:07] because we have already given the scenarios as well as the options that can be adapted as far [1:37:13] as the suspension of the exhaust type would you know when the announcement is going to be made [1:37:20] we are not private to that mr informally what is you what do you hear i mean you're you're working [1:37:25] in those circles so what is the impression that we get mr chair uh based on the last meeting last week [1:37:34] uh the president is supposed to make the announcement within this week good congress next question on biofuels [1:37:48] we have already the congress through our very energetic question means chairman congressman chairman [1:37:57] miro already approved house bill 8469 amending the biofuels act of 2006 six which would mean and [1:38:07] this is now in the uplift also that this will allow the importation one-year importation of biofuel [1:38:15] components bioethanol and biodiesel if blended gasoline or diesel prices exceed pure fuels in the philippines by at [1:38:23] least five percent may we know what is the action of the way on this is there any action because the [1:38:30] senate is at fault here it has not acted on this correct uh mr chair under the present uh law uh there's [1:38:43] no allowance to import the biodiesel we should use only uh uh indigenous uh feedstock in the biodiesel [1:38:53] production in the ethanol side there's uh allowance if the domestic supply is insufficient then [1:39:02] importation is allowed for the ethanol side and what is the problem there is no bill uh yet to be [1:39:10] signed with the president because the senate let me tell you that practically indonesia is using biofuels [1:39:18] and it's very cheap there very much cheaper than what we have here and so therefore according to our bill of [1:39:25] the house the ever active house of representatives it provides that the president upon the recommendation [1:39:33] of the nbb and the do we may suspend the mandatory use of locally sourced biofuels through an executive [1:39:40] order for a period not longer than one year if the prices for blended gasoline and or diesel engine fuels [1:39:47] are at least five percent higher compared to pure gasoline and or diesel fuels have you not recommended to the [1:39:53] senate to be able to act on this i think the the recommendation of the oe was to allow the [1:40:02] importation of for a limited period with the price subject to pricing consideration because indonesian [1:40:15] biofuels import is very very cheap compared to ours and it could help in our mix i would agree with the [1:40:23] chairman that the president calls now a special session because senate has failed to enact this bill on [1:40:31] biofuels it can help so much in our mix to lessen the price of our fuel in the philippines last point [1:40:40] mr german we are now at 3 44 3 minutes and 48 seconds my last point is this uh to the depth there oh i saw the [1:40:56] uplift program here there is no recommendation on lowering the expanded value added tax by two percent [1:41:08] we are now thinking on how to be able at least at this time help our people we are helping our people [1:41:15] through ayuda congressman rufus as the swd our secretary rex three thousand for all the transport sector [1:41:25] motorella taxi bau bau bau bau bau uh uh jeepney and buses three thousand and five thousand from the [1:41:34] this wsl and the city government two thousand this will not go too far to help our people but if we [1:41:41] also recommend that we just lessen the expanded get the expanded out of that to uh become uh 10 [1:41:51] percent we can help our people at this time only until 80 pesos until the price of barrel is 80 [1:42:01] dollars and below may we know the answer mr chairman ah from the uh dep dep [1:42:07] uh yes uh we are uh carefully balancing the needs of uh the government to raise revenues and provide [1:42:20] assistance to our people so we favor dep dep is favoring targeted subsidies rather than a uniform [1:42:28] reduction in in bath that will benefit undoubtedly not only the the vulnerable segment of our population [1:42:38] but everybody else but everybody else but that will lose the ability of the government to raise [1:42:43] a lot of revenues needed to uh support those uh subsidies uh mr mr chair so we are in that in that [1:42:56] situation right now targeted uh subsidies rather than uniform reduction in access that will compromise [1:43:04] our ability to raise our ability to raise revenues to support those subsidies uh very disappointed mr chairman [1:43:11] because we need to already address the pressing problems of our people because of this emergency energy [1:43:18] emergency so just go back to 10 percent and then let's when everything will go normalize below 80 dollars [1:43:25] per barrel then we assume the eva but now vat lang muna now we know the answer is the chairman of the [1:43:33] department of uh who else who else would like to answer can we hear as a last uh from uh usech uh ligon [1:43:45] are you in fact even considering something that we raised at the last hearing at the very least a suspension of the [1:43:51] vat on petroleum uh is that something that the doof is open uh to discuss or decide on uh your honor um we [1:44:03] have actually studied uh the uh we're studying the uh of doing uh removing the value added tax or reducing it to [1:44:13] a lesser rate uh to alleviate the uh to alleviate the uh uh and uh uh uh unfortunately po right now uh we want [1:44:24] to uh manage the uh 2 trillion uh uh deficit uh program deficit for 2026 and the um effect of removing the [1:44:35] value added tax on petroleum products is around 120 billion pesos so uh we're [1:44:45] trying to manage [1:44:46] our program deficit. [1:44:49] Kaya po medyo [1:44:50] nahihirapan po [1:44:53] kaming i-consider po. [1:44:56] So, [1:44:56] please wrap up. Go ahead with your last question. [1:45:00] This will now be an appeal, [1:45:01] Mr. President, Mr. Chairman. [1:45:05] We appeal to the President [1:45:06] to immediately today [1:45:09] suspend the [1:45:12] excise tax on petroleum [1:45:14] products. Secondly, [1:45:16] we also propose [1:45:17] that there will be [1:45:20] a suspension on the [1:45:22] VAT on petroleum [1:45:24] to lessen it from [1:45:26] 12 to 10. [1:45:28] Just that. So, not to remove it. [1:45:31] Just suspending. [1:45:32] Just reducing from [1:45:34] 12 to 10. And finally, [1:45:37] Mr. Chairman, that we have a [1:45:39] joint session because this will [1:45:41] result to the Bayanihan 3. [1:45:43] We have Bayanihan 1. [1:45:46] Bayanihan to [1:45:47] heal as one. [1:45:49] Bayanihan 1. [1:45:51] Bayanihan 2. [1:45:52] During the COVID-19. [1:45:54] Bayanihan 2. [1:45:55] Bayanihan to recover as one. [1:45:57] And now, we need [1:45:59] more legislation [1:46:00] to be able [1:46:01] to address the present problem [1:46:03] facing us, which will be there [1:46:05] I think for the next [1:46:06] three to six months. [1:46:08] Thank you, Mr. Chairman, [1:46:09] for the opportunity. [1:46:10] Thank you very much. [1:46:12] Mr. Chairman, if I may manifest. [1:46:13] Yes. [1:46:14] Short interjection, please. [1:46:17] Go ahead, Congressman Paul. [1:46:19] Very short interjection, Mr. Chair. [1:46:21] Thank you for the time. [1:46:22] Along the lines of what [1:46:23] my mentor was saying earlier [1:46:25] about the biofuels, [1:46:27] I think now is the time [1:46:29] to already explore [1:46:30] other energy options [1:46:31] and certify as urgent [1:46:33] the passage of the [1:46:34] Biofuel Act [1:46:35] as well as the [1:46:36] amendments [1:46:37] or the Waste to Energy Act. [1:46:40] Because these are [1:46:40] two sources of energy [1:46:42] which the country [1:46:43] can immediately benefit from [1:46:45] once it passes [1:46:46] in the Senate. [1:46:47] So, I'm really hoping [1:46:48] that the President [1:46:49] will take this into consideration [1:46:51] kasi nakikita natin [1:46:52] may mga reports [1:46:53] in the news [1:46:55] na nakikita natin [1:46:57] nasasayang na [1:46:58] ang food [1:47:00] yung agricultural products [1:47:03] ng mga farmers natin [1:47:04] because they cannot afford [1:47:06] to transport it. [1:47:07] So, nabubulok na lang siya. [1:47:09] Ginagawa na lang nilang [1:47:10] fertilizer. [1:47:11] Eh, sayang. [1:47:12] We could be using that [1:47:13] for our energy supply as well. [1:47:15] We could be buying it [1:47:16] from the farmers. [1:47:17] This is an opportunity [1:47:18] that we should explore. [1:47:20] In this time of emergency, [1:47:22] baka we can certify [1:47:22] these two energy measures [1:47:24] as urgent [1:47:25] and immediately pass it. [1:47:27] This is exactly [1:47:28] what I've been saying [1:47:30] is that what we need [1:47:31] from Uplift [1:47:32] is really a laundry list [1:47:33] of things that are needed [1:47:35] so that Congress [1:47:36] can be your instrument [1:47:37] so that you can be [1:47:38] more empowered [1:47:39] in addressing [1:47:40] this situation [1:47:42] to insulate [1:47:46] our economy [1:47:46] from future [1:47:47] oil shocks. [1:47:48] May I recognize [1:47:49] Congress, [1:47:50] Secretary Gatchalian? [1:47:53] Mr. Chairman raised my hands [1:47:55] because I think [1:47:56] they weren't able [1:47:57] to fully expound [1:47:58] the excise tax suspension. [1:48:01] You're a member [1:48:02] of Uplift, correct? [1:48:03] So are Secretary Lopez [1:48:05] and Secretary Agudo. [1:48:06] And we were there. [1:48:07] We may not be [1:48:08] directly part of the team [1:48:09] discussing the excise tax issues, [1:48:11] but we are there. [1:48:13] Mr. Chairman, [1:48:14] first of all, [1:48:14] the President is fully aware [1:48:16] of the timelines. [1:48:17] He is also fully aware [1:48:18] of what's happening outside. [1:48:20] He gets regular reports [1:48:21] on how difficult it is [1:48:23] becoming for our drivers, [1:48:25] for our public utility drivers. [1:48:27] Mr. Chair, [1:48:27] he knows that he has [1:48:29] he has to make [1:48:30] the announcement [1:48:31] at the proper time. [1:48:33] And from the date [1:48:34] of reckoning, [1:48:36] March 25 [1:48:36] was the approval, [1:48:38] the signing [1:48:39] of the law. [1:48:41] Now, [1:48:41] it says they're off [1:48:42] another 15 days [1:48:44] for publication, [1:48:45] which puts us [1:48:46] to April 9. [1:48:47] And then another week [1:48:48] upon the averages [1:48:50] of the maps. [1:48:52] So that, [1:48:52] if you count the week, [1:48:53] even if it's five days, [1:48:54] we are still within [1:48:55] the time [1:48:56] that the President [1:48:57] or the Chief Executive [1:48:58] should announce. [1:49:00] And that's tomorrow, [1:49:01] Mr. President. [1:49:02] Or if it's seven days, [1:49:04] that should be even [1:49:05] what did it do? [1:49:06] Seven, [1:49:07] 16, [1:49:08] April 16. [1:49:09] I just want to put on record [1:49:11] again, [1:49:12] that on top of [1:49:13] all things happening, [1:49:14] the President knows [1:49:15] that this is one [1:49:16] of the priorities [1:49:16] and that I assure you [1:49:18] that he will make [1:49:19] the necessary announcement [1:49:21] as prescribed [1:49:23] by the timeline [1:49:24] set forth by your law. [1:49:26] So we take it to mean, [1:49:27] Secretary, [1:49:28] that in fact, [1:49:29] the President [1:49:29] wants to decide [1:49:31] on this [1:49:31] on the very first hour [1:49:33] that he is legally [1:49:34] allowed to. [1:49:35] Correct. [1:49:35] That is correct, [1:49:36] Mr. Chairman. [1:49:37] Thank you. [1:49:38] Mr. Chairman, [1:49:38] just to answer [1:49:39] because the law [1:49:40] is very clear. [1:49:42] The law [1:49:42] says that [1:49:44] this act [1:49:45] will take effect [1:49:46] 15 days [1:49:47] upon publication. [1:49:49] The President [1:49:49] signed it [1:49:50] March 25. [1:49:51] It was immediately [1:49:53] published by [1:49:54] Official Gazette [1:49:55] on March 25. [1:49:58] So if you get [1:49:59] 15 days, [1:50:00] it will be [1:50:01] April 9. [1:50:02] So where are you [1:50:02] taking your [1:50:03] other... [1:50:05] Because it might [1:50:06] also explain. [1:50:07] Where did you get [1:50:08] that five more days? [1:50:09] Again, [1:50:09] Mr. Chair, [1:50:10] I am not the [1:50:10] policy expert on this, [1:50:12] but again, [1:50:12] in section... [1:50:18] There is a trigger [1:50:19] there. [1:50:20] Correct. [1:50:20] Section 1, [1:50:21] item letter A. [1:50:26] One week after [1:50:27] the one-month [1:50:28] average of the [1:50:29] Dubai crude oil [1:50:30] prices based on [1:50:31] the maps, [1:50:32] falls below... [1:50:33] If it falls below [1:50:33] 80 USD per barrel [1:50:36] as effectively [1:50:37] duly certified [1:50:38] by the Department [1:50:38] of Energy. [1:50:40] So from the... [1:50:41] And I think the [1:50:41] DOE and the [1:50:42] DBCC can confirm [1:50:44] what I'm saying [1:50:44] that it's 15 [1:50:46] plus another [1:50:48] five upon [1:50:49] the certification. [1:50:50] Congrufus, [1:50:51] let's put that [1:50:52] to rest at the [1:50:53] moment. [1:50:53] I'd just like to [1:50:54] state, [1:50:55] effectivity is [1:50:56] the governing [1:50:56] provision, [1:50:57] not any other [1:50:58] provision in the [1:50:59] body. [1:51:00] Effectivity says [1:51:01] this act shall [1:51:01] take effect [1:51:02] after 15 days [1:51:03] following its [1:51:04] publication, [1:51:05] the official [1:51:05] gazette, [1:51:06] or in a [1:51:07] newspaper of [1:51:08] general circulation [1:51:09] signed by the [1:51:10] President, [1:51:11] March 25, [1:51:12] 15 days, [1:51:13] is April 9. [1:51:14] But anyway, [1:51:15] we will, [1:51:16] Madam Chair, [1:51:16] because Mr. [1:51:17] Chairman, [1:51:18] the President [1:51:20] will probably [1:51:21] already [1:51:21] suspend it [1:51:23] today. [1:51:24] Thank you. [1:51:25] Thank you. [1:51:25] What's important [1:51:26] is I think we [1:51:27] all know the [1:51:27] degree of [1:51:28] urgency that [1:51:28] we want [1:51:29] this act [1:51:30] to be [1:51:31] implemented. [1:51:33] May we [1:51:33] now call [1:51:33] on from [1:51:35] the minority [1:51:36] the Honorable [1:51:37] Iris Marie [1:51:39] Montes. [1:51:40] You have [1:51:41] the floor. [1:51:41] Please, [1:51:42] we have [1:51:42] five minutes. [1:51:43] Thank you, [1:51:44] Mr. [1:51:44] Chair. [1:51:45] Sa harap [1:51:46] po ng [1:51:46] nararanasan [1:51:47] nating [1:51:47] crisis [1:51:48] na nagdudulot [1:51:49] ng pagtaas [1:51:50] ng mga [1:51:51] bilihin, [1:51:52] ng presyo [1:51:52] ng gasolina, [1:51:54] nakakalungkot [1:51:56] dahil hindi [1:51:56] naman po [1:51:57] kasama [1:51:57] sa pagtaas [1:51:58] ang sahod. [1:51:59] So, [1:51:59] ang mga [1:51:59] ordinary [1:52:00] yung mamamayan [1:52:00] naghahanap [1:52:01] ng paraan [1:52:02] kung paano [1:52:02] makakatipid [1:52:03] at magiging [1:52:05] sapat [1:52:06] yung kanilang [1:52:07] kita. [1:52:08] More than [1:52:09] 20 years ago, [1:52:10] almost 20 years ago, [1:52:11] ipinasapo [1:52:12] natin yung [1:52:12] Renewable Energy [1:52:14] Act [1:52:14] as a response, [1:52:16] as a result [1:52:16] ng US-Iraq [1:52:17] war, [1:52:18] na naranasan [1:52:19] natin, [1:52:19] kung ano [1:52:20] man ang [1:52:20] naranasan [1:52:21] natin [1:52:21] ngayon, [1:52:22] almost 20 [1:52:22] years, [1:52:23] ito po [1:52:24] ay batas [1:52:24] na, [1:52:27] hindi pa [1:52:27] po gagawin [1:52:28] ng Kongreso, [1:52:29] so meron [1:52:29] na po sana [1:52:30] tayong [1:52:30] framework. [1:52:31] Sa tanong [1:52:32] ko lamang [1:52:33] po sa [1:52:33] DOE, [1:52:34] pagdating [1:52:35] po sa [1:52:35] adaption [1:52:36] ng [1:52:36] household [1:52:36] solar, [1:52:38] nasaan [1:52:39] na po [1:52:39] ba tayo [1:52:40] in terms [1:52:41] of [1:52:41] implementation [1:52:42] ng [1:52:42] Renewable [1:52:43] Energy [1:52:43] Act? [1:52:51] Siguro [1:52:51] po, [1:52:51] ilang [1:52:52] porsyento [1:52:52] na po [1:52:53] ang [1:52:53] gumagamit [1:52:54] ng [1:52:54] solar [1:52:54] energy? [1:52:59] Mr. [1:52:59] Chair, [1:53:00] Honorable [1:53:01] Red [1:53:03] Montes, [1:53:05] well, [1:53:06] we have [1:53:06] already [1:53:07] installed [1:53:07] around [1:53:09] 29% [1:53:10] in terms [1:53:11] of [1:53:11] capacity [1:53:11] of [1:53:11] renewable [1:53:12] energy [1:53:12] generating [1:53:13] about [1:53:14] 22% [1:53:15] on the [1:53:17] grid. [1:53:18] Aside [1:53:19] from that, [1:53:19] we have [1:53:20] a massive [1:53:20] promotion [1:53:22] of [1:53:22] distributed [1:53:23] energy [1:53:24] resources [1:53:24] using [1:53:25] rooftop [1:53:26] solar [1:53:26] per [1:53:26] household. [1:53:28] In [1:53:28] fact, [1:53:28] one of [1:53:29] the [1:53:29] directives [1:53:30] during [1:53:30] the [1:53:30] last [1:53:31] State [1:53:31] of [1:53:31] the [1:53:32] Nation [1:53:32] address [1:53:32] of [1:53:32] the [1:53:32] President [1:53:34] is [1:53:34] to [1:53:35] enhance [1:53:36] and [1:53:36] accelerate [1:53:37] the [1:53:37] implementation [1:53:37] of [1:53:38] the [1:53:38] net [1:53:38] metering [1:53:38] program. [1:53:39] Hindi pa [1:53:40] po [1:53:40] kasi [1:53:40] pare-parehas [1:53:41] yung [1:53:41] level [1:53:42] of [1:53:42] implementation. [1:53:43] We have [1:53:46] also [1:53:47] incorporated [1:53:48] the [1:53:49] use [1:53:50] of [1:53:50] solar [1:53:51] homes [1:53:51] initiatives [1:53:52] in our [1:53:54] energy [1:53:54] efficiency [1:53:55] and [1:53:55] conservation [1:53:55] concepts. [1:53:56] So, [1:53:57] pagdating [1:53:58] po dun [1:53:58] sa [1:53:58] una [1:53:58] nating [1:53:59] implementation [1:54:00] of [1:54:00] energy [1:54:00] efficiency [1:54:01] and [1:54:01] conservation [1:54:02] is on [1:54:03] the [1:54:03] government [1:54:03] buildings. [1:54:05] Kasi [1:54:05] ang [1:54:05] government [1:54:06] entities [1:54:07] is [1:54:08] mandated [1:54:08] to have [1:54:09] a minimum [1:54:10] of [1:54:10] 10% [1:54:11] reduction [1:54:12] in [1:54:13] the [1:54:13] consumption [1:54:15] of [1:54:16] all [1:54:16] utilities [1:54:17] including [1:54:17] electricity [1:54:18] and [1:54:18] fuel. [1:54:18] So, [1:54:20] part [1:54:20] po [1:54:20] ng [1:54:20] reduction [1:54:21] nila [1:54:21] ng [1:54:21] electricity [1:54:22] consumption [1:54:23] is [1:54:24] the [1:54:24] installation [1:54:24] of [1:54:25] solar [1:54:26] rooftops [1:54:27] in [1:54:28] their [1:54:29] own [1:54:29] activities. [1:54:33] And [1:54:33] so far [1:54:33] po, [1:54:34] massive [1:54:34] po yung [1:54:35] ating [1:54:35] coordination, [1:54:36] the [1:54:37] League of [1:54:37] Governors, [1:54:38] the League [1:54:38] of [1:54:38] Municipalities, [1:54:40] the [1:54:40] City [1:54:40] Mayors, [1:54:41] Municipal [1:54:41] Mayors, [1:54:42] as well [1:54:42] as Governors [1:54:43] have [1:54:43] entered [1:54:43] into [1:54:44] various [1:54:45] memoranda [1:54:46] of [1:54:46] agreements [1:54:46] with [1:54:47] the [1:54:47] Department [1:54:47] of [1:54:47] Energy [1:54:48] wherein [1:54:49] the [1:54:49] Department [1:54:49] of [1:54:50] Energy [1:54:50] provides [1:54:51] guidance, [1:54:52] energy [1:54:52] audit, [1:54:53] to determine [1:54:54] ano po yung [1:54:55] applicable [1:54:55] na solar [1:54:56] installation [1:54:57] for [1:54:57] the [1:54:58] properties [1:54:59] na meron [1:54:59] yung [1:54:59] ating [1:54:59] mga [1:55:00] local [1:55:00] government [1:55:00] units. [1:55:01] Also, [1:55:02] we [1:55:03] conduct [1:55:03] massive [1:55:04] energy [1:55:05] audits [1:55:06] of [1:55:06] all [1:55:07] offices [1:55:07] and [1:55:09] properties [1:55:09] po [1:55:10] ng [1:55:10] ating [1:55:10] facilities [1:55:11] ng [1:55:11] ating [1:55:11] mga [1:55:12] government [1:55:12] agencies [1:55:13] para [1:55:14] to [1:55:15] ensure [1:55:15] that [1:55:16] they [1:55:16] comply [1:55:16] with [1:55:17] the [1:55:17] 10%. [1:55:17] In [1:55:18] fact po [1:55:18] ngayon, [1:55:19] having [1:55:19] been [1:55:20] yung [1:55:21] rating, [1:55:22] dahil [1:55:22] nire-rate [1:55:23] natin [1:55:23] yung [1:55:23] mga [1:55:23] government [1:55:24] agencies, [1:55:25] most [1:55:26] of [1:55:26] them, [1:55:27] if not [1:55:27] all, [1:55:28] have [1:55:28] been [1:55:28] at [1:55:29] the [1:55:29] high [1:55:29] 80% [1:55:31] compliance. [1:55:32] We [1:55:32] are [1:55:32] actually [1:55:33] pursuing [1:55:34] not [1:55:34] only [1:55:35] 10%, [1:55:35] but [1:55:36] if [1:55:36] they [1:55:36] can [1:55:36] improve [1:55:37] to [1:55:38] 20%, [1:55:39] then [1:55:39] we [1:55:39] encourage [1:55:40] them. [1:55:41] By [1:55:41] the [1:55:41] way, [1:55:41] part [1:55:42] nga [1:55:42] nga [1:55:42] nga [1:55:43] nga [1:55:44] government [1:55:44] energy [1:55:45] management [1:55:45] program [1:55:46] is [1:55:46] also [1:55:46] the [1:55:47] electrification [1:55:48] of the [1:55:48] mobility [1:55:49] of the [1:55:49] government [1:55:49] service. [1:55:51] So, [1:55:51] part po yung [1:55:52] ating [1:55:52] implementation [1:55:53] by at least [1:55:54] 10% [1:55:55] ng government [1:55:56] plate [1:55:56] should be [1:55:57] retrofitted [1:55:58] to electric [1:55:59] vehicles [1:56:00] para [1:56:00] mag-ship [1:56:01] tayo [1:56:02] from [1:56:02] liquid [1:56:03] fuels [1:56:03] to [1:56:04] electricity. [1:56:05] So, [1:56:05] yun po yung [1:56:06] ano, [1:56:06] and the [1:56:07] Department [1:56:07] of Energy [1:56:08] have [1:56:08] demonstrated [1:56:09] that we [1:56:10] can achieve [1:56:11] up to [1:56:12] even [1:56:12] 40% [1:56:13] of [1:56:14] electricity [1:56:15] and [1:56:16] fuel [1:56:16] savings [1:56:17] if we [1:56:17] will [1:56:18] include [1:56:18] yung [1:56:19] tinatawag [1:56:20] ng [1:56:20] modified [1:56:21] working [1:56:21] arrangement. [1:56:23] That's [1:56:23] why [1:56:24] until now, [1:56:25] pinupos [1:56:26] po natin [1:56:26] yung [1:56:27] work [1:56:27] from [1:56:27] home [1:56:28] platform [1:56:31] para po [1:56:32] dun sa [1:56:33] mga, [1:56:33] hindi po [1:56:33] lahat [1:56:34] ng [1:56:34] agencies [1:56:34] kasi [1:56:35] alam po [1:56:35] natin [1:56:35] especially [1:56:36] for [1:56:36] those [1:56:37] government [1:56:38] agencies [1:56:39] na may [1:56:39] frontline [1:56:39] services, [1:56:40] they cannot [1:56:40] work [1:56:41] from [1:56:41] home. [1:56:42] Pero yung [1:56:42] po mga [1:56:42] government [1:56:43] agencies [1:56:44] wherein [1:56:44] they can [1:56:44] implement [1:56:45] not only [1:56:46] one day [1:56:46] but [1:56:47] several [1:56:47] days [1:56:48] of [1:56:48] work [1:56:48] from [1:56:48] home [1:56:49] arrangement, [1:56:50] we [1:56:50] encourage [1:56:50] them [1:56:51] to do [1:56:51] for the [1:56:52] reduction [1:56:53] utility [1:56:54] consumption. [1:56:56] So, [1:56:56] renewable [1:56:57] energy [1:56:57] po, [1:56:58] lahat [1:56:58] po yun [1:56:58] covered [1:56:59] and [1:57:00] for the [1:57:01] month [1:57:01] of [1:57:02] April [1:57:02] alone, [1:57:03] this [1:57:03] year po, [1:57:03] we are [1:57:04] monitoring [1:57:04] around [1:57:05] 1,400 [1:57:06] megawatts [1:57:07] of [1:57:07] renewable [1:57:08] energy [1:57:09] that will [1:57:10] come [1:57:11] into [1:57:11] commissioning [1:57:12] within [1:57:13] the month [1:57:13] of [1:57:13] April. [1:57:14] So, [1:57:15] we have [1:57:15] also [1:57:15] our [1:57:16] monitoring [1:57:16] activities [1:57:17] to [1:57:18] complete [1:57:18] po [1:57:18] up to [1:57:19] December [1:57:19] 2026 [1:57:20] and [1:57:21] after [1:57:21] that [1:57:22] up to [1:57:22] 2028. [1:57:24] Thank you [1:57:24] very much [1:57:24] po. [1:57:25] Salamat [1:57:26] po. [1:57:26] Gusto [1:57:27] ko [1:57:27] lamang [1:57:27] po [1:57:27] mag-focus [1:57:28] doon [1:57:28] sa [1:57:28] household [1:57:29] solar [1:57:30] adoption [1:57:30] para [1:57:31] sa [1:57:31] ordinary [1:57:32] yung [1:57:32] pamilya [1:57:32] sana. [1:57:33] We [1:57:33] know [1:57:33] how [1:57:33] prohibitive [1:57:34] the [1:57:34] cost [1:57:35] of [1:57:36] installing [1:57:36] solar [1:57:37] panels. [1:57:38] So, [1:57:38] ang [1:57:38] tanong [1:57:38] ko [1:57:39] po, [1:57:39] anong [1:57:39] meron [1:57:39] pong [1:57:40] programa [1:57:40] sa [1:57:40] DOE? [1:57:42] Meron [1:57:42] po [1:57:42] tayong [1:57:43] subsidiya [1:57:43] o [1:57:44] meron [1:57:44] po [1:57:44] kaya [1:57:45] tayong [1:57:45] mga [1:57:45] pautang [1:57:46] na [1:57:46] maliit [1:57:47] la [1:57:47] kung [1:57:47] maaari, [1:57:48] walang [1:57:49] tubo [1:57:49] o [1:57:49] meron [1:57:50] man [1:57:50] maliit [1:57:51] para [1:57:51] matulungan [1:57:52] natin [1:57:52] mga [1:57:52] ordinary [1:57:53] pamilya [1:57:53] ma-afford [1:57:54] yun. [1:57:55] Pangalawa [1:57:56] po, [1:57:56] tungkol [1:57:57] po sa [1:57:58] net [1:57:58] metering, [1:57:59] I am [1:57:59] aware [1:57:59] that [1:57:59] recently [1:58:00] DOE [1:58:00] issued [1:58:01] guidelines [1:58:01] on [1:58:02] streamlining [1:58:03] the [1:58:04] process [1:58:04] of [1:58:05] the [1:58:05] application [1:58:05] for [1:58:06] net [1:58:06] metering. [1:58:07] Pero [1:58:07] meron [1:58:07] pa rin [1:58:07] po tayong [1:58:08] isang [1:58:08] usapin [1:58:09] dyan [1:58:10] na [1:58:10] mahalaga [1:58:10] yung [1:58:11] cost. [1:58:12] Paano [1:58:12] po [1:58:12] natin [1:58:13] maipapababa [1:58:14] ang cost [1:58:15] ng [1:58:15] net [1:58:15] metering [1:58:15] so [1:58:16] that [1:58:16] bukod [1:58:17] sa [1:58:17] makakatipid [1:58:18] ang [1:58:18] ating [1:58:18] mga [1:58:19] ordinary [1:58:19] household [1:58:20] pamilya [1:58:22] they can [1:58:22] sell [1:58:23] back [1:58:23] to [1:58:23] the [1:58:23] grid [1:58:24] e [1:58:25] magkakaroon [1:58:25] pa po [1:58:25] sila [1:58:26] ng [1:58:26] kita. [1:58:26] So [1:58:26] yung [1:58:27] gusto [1:58:27] natin [1:58:27] i-achieve [1:58:28] na [1:58:29] yung [1:58:29] mga [1:58:29] ordinary [1:58:30] yung [1:58:30] mamamayan [1:58:31] kahit [1:58:31] na [1:58:31] papano [1:58:32] makushion [1:58:32] yung [1:58:32] impact [1:58:33] ng [1:58:34] pagtaas [1:58:34] ng [1:58:35] kuryente [1:58:35] at [1:58:37] mabawasan [1:58:37] ng [1:58:37] kanilang [1:58:38] gastusin. [1:58:40] Thank [1:58:40] you [1:58:40] very [1:58:41] much [1:58:41] po. [1:58:42] Well [1:58:42] tama [1:58:42] po [1:58:43] yung [1:58:43] ating [1:58:44] pag-pupost [1:58:44] ng [1:58:45] net [1:58:45] metering [1:58:46] program [1:58:46] and [1:58:47] wala [1:58:48] man pong [1:58:49] budget [1:58:50] ang DOE [1:58:51] wala po [1:58:52] kasing [1:58:52] specific [1:58:52] budget [1:58:53] ang DOE [1:58:53] for [1:58:54] net [1:58:54] metering [1:58:54] particularly [1:58:55] the [1:58:56] provision [1:58:56] of [1:58:56] subsidies [1:58:57] meron [1:58:58] na pong [1:58:59] mga [1:58:59] distribution [1:58:59] utilities [1:59:00] especially [1:59:01] the [1:59:01] private [1:59:01] one [1:59:01] that [1:59:02] provides [1:59:03] their [1:59:03] own [1:59:04] facilities [1:59:06] meron [1:59:07] po [1:59:07] silang [1:59:08] even [1:59:09] po [1:59:10] yung [1:59:10] ating [1:59:10] meral [1:59:11] ko [1:59:11] nag-offer [1:59:11] po [1:59:11] sila [1:59:12] ng [1:59:12] mga [1:59:12] proposals [1:59:12] for [1:59:13] those [1:59:13] interested [1:59:14] na [1:59:14] magkaroon [1:59:15] ng [1:59:15] net [1:59:15] metering [1:59:16] doon [1:59:16] sa [1:59:16] kanilang [1:59:16] mga [1:59:16] bahay [1:59:17] where [1:59:17] appropriate [1:59:18] nga [1:59:19] lang [1:59:19] po [1:59:19] ano [1:59:19] po [1:59:19] meron [1:59:21] na pong [1:59:21] programa [1:59:22] and [1:59:22] then [1:59:22] if [1:59:23] I'm [1:59:23] not [1:59:24] mistaken [1:59:25] part [1:59:26] na [1:59:26] po [1:59:26] nung [1:59:26] house [1:59:27] renovation [1:59:28] ng [1:59:28] both [1:59:28] pag-ibig [1:59:29] and [1:59:29] GSIS [1:59:30] allows [1:59:31] integration [1:59:32] of [1:59:32] solar [1:59:32] rooftop [1:59:33] so [1:59:34] kung [1:59:34] mag-a-apply [1:59:35] po tayo [1:59:35] ng [1:59:35] loan [1:59:36] no [1:59:36] ng [1:59:36] renovation [1:59:37] ng [1:59:37] house [1:59:38] natin [1:59:38] pwede [1:59:39] pong [1:59:39] isali [1:59:39] yun [1:59:40] yun [1:59:40] po [1:59:41] yung [1:59:41] mga [1:59:41] pwede [1:59:42] lang [1:59:42] i-modify [1:59:43] now [1:59:45] to ensure [1:59:46] naman po [1:59:46] na tama [1:59:47] yung [1:59:47] installation [1:59:48] natin [1:59:49] ang ginawa [1:59:50] po ng [1:59:50] Department [1:59:50] of Energy [1:59:51] is to [1:59:52] have [1:59:52] an [1:59:53] accreditation [1:59:54] process [1:59:54] not only [1:59:56] for the [1:59:56] suppliers [1:59:57] of the [1:59:57] net [1:59:57] metering [1:59:58] hardware [1:59:59] but also [2:00:00] accreditation [2:00:01] of the [2:00:01] installers [2:00:02] para po [2:00:03] sigurado [2:00:04] tayo [2:00:04] na kung [2:00:05] mayroong [2:00:05] maglalagay [2:00:06] hindi po [2:00:07] ito yung [2:00:08] kagaya [2:00:08] ng mga [2:00:08] DIY [2:00:09] na mabibili [2:00:10] sa [2:00:10] online [2:00:12] so [2:00:12] yun po [2:00:13] yung [2:00:13] ginagarantihan [2:00:14] naman po [2:00:15] ng Department [2:00:15] of Energy [2:00:16] dahil [2:00:16] isa po [2:00:17] yung [2:00:17] accreditation [2:00:18] process [2:00:19] para po [2:00:19] ma-insure [2:00:20] natin [2:00:21] na [2:00:21] tama [2:00:22] or [2:00:22] appropriate [2:00:23] po [2:00:23] yung [2:00:23] presyo [2:00:24] na binibigay [2:00:24] salamat [2:00:25] po [2:00:25] sana po [2:00:27] sir [2:00:27] sa susunod [2:00:28] na budget [2:00:29] ng [2:00:29] DOE [2:00:30] baka [2:00:30] pwede [2:00:30] natin [2:00:31] i-considera [2:00:32] na [2:00:32] mangingi [2:00:32] tayo [2:00:33] ng [2:00:33] subsidiya [2:00:34] para [2:00:34] sa [2:00:34] ordinaryong [2:00:35] household [2:00:35] para [2:00:36] makapagpakabit [2:00:37] ng mga [2:00:38] solar [2:00:38] panels [2:00:38] without [2:00:39] going [2:00:39] through [2:00:39] GSIS [2:00:40] or [2:00:40] SSS [2:00:41] na [2:00:41] medyo [2:00:41] matataas [2:00:42] po [2:00:42] ang [2:00:42] kanilang [2:00:43] tubo [2:00:44] ano [2:00:44] on that [2:00:45] note [2:00:45] Mr. [2:00:46] Chair [2:00:46] may [2:00:46] I [2:00:46] take [2:00:47] this [2:00:47] opportunity [2:00:48] to [2:00:48] suggest [2:00:49] that [2:00:49] in the [2:00:50] forthcoming [2:00:50] hearings [2:00:51] may [2:00:51] we [2:00:51] please [2:00:51] invite [2:00:52] the [2:00:52] DTI [2:00:53] because [2:00:53] I [2:00:53] have [2:00:53] some [2:00:54] also [2:00:54] we [2:00:54] nakita [2:00:55] po [2:00:56] na [2:00:56] natin [2:00:56] na [2:00:56] meron [2:00:56] din [2:00:57] mga [2:00:57] concerns [2:00:57] tungkol [2:00:58] sa [2:00:58] presyo [2:00:59] and [2:00:59] I [2:01:00] am [2:01:00] aware [2:01:00] that [2:01:00] recently [2:01:01] merong [2:01:01] report [2:01:02] na [2:01:02] nagkakaroon [2:01:03] daw [2:01:03] po [2:01:03] ng [2:01:04] solar [2:01:04] rush [2:01:05] so [2:01:05] madaming [2:01:06] gusto [2:01:06] natin [2:01:06] maprotektahan [2:01:07] ng [2:01:07] ating [2:01:08] mga [2:01:08] consumers [2:01:10] from [2:01:10] fraudulent [2:01:11] na [2:01:11] mga [2:01:11] transactions [2:01:12] sa [2:01:12] mga [2:01:13] fake [2:01:13] na [2:01:13] installers [2:01:14] or [2:01:14] mga [2:01:15] fake [2:01:16] din [2:01:16] po [2:01:16] na [2:01:16] solar [2:01:16] panels [2:01:17] so [2:01:17] I [2:01:17] guess [2:01:18] we [2:01:18] really [2:01:18] need [2:01:19] to [2:01:19] have [2:01:19] the [2:01:20] DTI [2:01:20] to [2:01:20] ensure [2:01:21] na [2:01:22] may [2:01:22] protection [2:01:23] po [2:01:23] ang [2:01:23] consumers [2:01:25] natin [2:01:25] my [2:01:26] next [2:01:26] question [2:01:26] will be [2:01:27] for [2:01:27] the [2:01:27] DepDev [2:01:28] sa [2:01:30] DepDev [2:01:30] po [2:01:31] kasama [2:01:31] po [2:01:31] ba [2:01:32] ang [2:01:32] particularly [2:01:33] ang [2:01:34] solar [2:01:34] household [2:01:35] energy [2:01:36] adoption [2:01:36] sa [2:01:37] ating [2:01:38] mga [2:01:38] development [2:01:39] programs [2:01:41] kasama [2:01:43] po [2:01:43] sa [2:01:43] promotion [2:01:45] of [2:01:45] all [2:01:45] types [2:01:46] of [2:01:46] renewable [2:01:46] energy [2:01:47] wider [2:01:48] adoption [2:01:48] as part [2:01:49] of [2:01:49] our [2:01:50] energy [2:01:50] conservation [2:01:51] measures [2:01:52] during [2:01:53] these [2:01:53] times [2:01:53] na [2:01:56] consider [2:01:56] na [2:01:57] rin [2:01:57] po [2:01:57] ba [2:01:57] in [2:01:58] the [2:01:58] absence [2:01:59] of [2:01:59] support [2:02:00] mechanisms [2:02:01] like [2:02:01] funding [2:02:01] and [2:02:02] subsidies [2:02:02] has [2:02:03] the [2:02:04] DepDev [2:02:05] considered [2:02:06] providing [2:02:07] for [2:02:07] financial [2:02:08] support [2:02:09] for [2:02:09] households [2:02:10] na [2:02:10] makapag [2:02:11] harness [2:02:13] ng [2:02:13] solar [2:02:13] energy [2:02:14] pag [2:02:16] ganito [2:02:16] pong [2:02:16] detalyang [2:02:17] measures [2:02:18] we [2:02:18] defer [2:02:18] to [2:02:18] the [2:02:19] DOE [2:02:19] kung [2:02:20] anong [2:02:20] appropriate [2:02:22] interventions [2:02:23] by [2:02:23] different [2:02:23] types [2:02:24] of [2:02:24] households [2:02:24] maybe [2:02:26] we [2:02:26] could [2:02:26] ask [2:02:27] DOE [2:02:27] to [2:02:28] provide [2:02:29] details [2:02:30] if [2:02:30] there [2:02:31] are [2:02:31] we [2:02:34] will [2:02:34] coordinate [2:02:35] po [2:02:35] yeah [2:02:36] thank [2:02:37] you [2:02:38] okay [2:02:38] since [2:02:39] I still [2:02:40] have [2:02:40] time [2:02:40] Mr. [2:02:41] Chair [2:02:41] can I [2:02:42] go [2:02:42] back [2:02:42] to [2:02:42] the [2:02:43] DOE [2:02:43] I [2:02:44] wasn't [2:02:45] given [2:02:45] the [2:02:45] opportunity [2:02:45] to [2:02:46] ask [2:02:46] the [2:02:46] Department [2:02:47] Secretary [2:02:47] the [2:02:48] other [2:02:48] hearing [2:02:48] but [2:02:49] I [2:02:49] would [2:02:49] like [2:02:49] to [2:02:50] zero [2:02:50] in [2:02:50] on [2:02:51] the [2:02:51] suggestion [2:02:52] na banggit [2:02:52] na po [2:02:52] ito [2:02:53] in [2:02:53] passing [2:02:53] yung [2:02:53] strategic [2:02:55] stockpiling [2:02:56] of [2:02:56] petroleum [2:02:59] reserves [2:03:00] I [2:03:01] want to [2:03:01] know [2:03:02] from our [2:03:03] legislature [2:03:04] if [2:03:04] ever [2:03:05] do we [2:03:05] need [2:03:06] to [2:03:06] pass [2:03:06] a [2:03:06] law [2:03:07] in [2:03:07] that [2:03:07] regard [2:03:08] ito pong [2:03:12] napapag-usapang [2:03:13] tungkol [2:03:13] sa [2:03:13] strategic [2:03:14] reserve [2:03:15] people [2:03:16] reserve [2:03:16] ay [2:03:17] inaaral pa po [2:03:18] wala pa pong [2:03:19] definite [2:03:19] concrete [2:03:21] suggestions [2:03:23] napak-isipan [2:03:24] lang po [2:03:24] dahil [2:03:24] dito [2:03:25] nga [2:03:25] sa [2:03:25] nangyayari [2:03:26] ngayon [2:03:26] but [2:03:27] together [2:03:28] with [2:03:28] DOE [2:03:29] we [2:03:29] will [2:03:29] take [2:03:30] this [2:03:30] issue [2:03:31] much [2:03:31] further [2:03:32] and [2:03:32] present [2:03:33] to [2:03:34] Congress [2:03:35] to be [2:03:35] included [2:03:36] in the [2:03:36] laundry [2:03:36] list [2:03:37] that [2:03:37] will [2:03:37] be [2:03:37] submitting [2:03:38] yes [2:03:39] we [2:03:39] would [2:03:39] appreciate [2:03:40] that [2:03:40] very [2:03:40] much [2:03:41] particularly [2:03:41] this [2:03:42] representation [2:03:43] is [2:03:43] interested [2:03:44] to know [2:03:45] dyan [2:03:46] sa study [2:03:46] nyo po [2:03:47] nagagawin [2:03:48] number [2:03:48] one [2:03:49] to define [2:03:50] kung ano [2:03:50] yung [2:03:50] strategic [2:03:51] reserves [2:03:52] 30, [2:03:53] 60, [2:03:53] 90, [2:03:54] 120 [2:03:54] days [2:03:55] given [2:03:56] our [2:03:56] limited [2:03:57] storage [2:03:57] infrastructure [2:03:58] so [2:03:59] saan po [2:03:59] natin [2:04:00] yan [2:04:00] ilalagay [2:04:00] sa [2:04:01] dapat ba [2:04:02] meron [2:04:02] sa [2:04:02] Luzon, [2:04:03] Visayas [2:04:03] at [2:04:03] Mindanao [2:04:04] para [2:04:04] accessible [2:04:05] in [2:04:05] times [2:04:05] of [2:04:06] emergencies [2:04:06] number [2:04:07] three [2:04:07] yung [2:04:08] funding [2:04:08] mechanism [2:04:09] po [2:04:09] ano [2:04:09] ang [2:04:09] sources [2:04:10] levies [2:04:11] po [2:04:11] petroleum [2:04:12] imports [2:04:12] allocation [2:04:13] from [2:04:13] energy [2:04:14] related [2:04:14] taxes [2:04:15] use [2:04:16] of [2:04:16] malampaya [2:04:16] funds [2:04:17] or [2:04:17] the [2:04:18] like [2:04:18] and [2:04:19] then [2:04:19] the [2:04:19] release [2:04:19] protocols [2:04:20] kailangan [2:04:21] kailan [2:04:21] po [2:04:22] yung [2:04:22] condition [2:04:22] for [2:04:23] drawing [2:04:24] down [2:04:25] reserves [2:04:25] and [2:04:26] more [2:04:26] importantly [2:04:27] yung [2:04:28] safeguards [2:04:28] and [2:04:29] priority [2:04:29] allocation [2:04:30] we [2:04:30] will [2:04:30] appreciate [2:04:31] your [2:04:32] submission [2:04:32] to [2:04:33] the [2:04:34] house [2:04:35] committee [2:04:36] to [2:04:36] the [2:04:36] committee [2:04:36] yung [2:04:37] suggestion [2:04:38] so [2:04:38] that [2:04:39] if [2:04:39] we [2:04:39] need [2:04:39] to [2:04:39] pass [2:04:39] a [2:04:40] law [2:04:40] about [2:04:41] strategic [2:04:42] stockpiling [2:04:44] of [2:04:44] reserves [2:04:45] mas maganda [2:04:46] po [2:04:46] yung [2:04:47] mababalangkas [2:04:48] nating [2:04:48] batas [2:04:49] yun [2:04:49] lamang [2:04:50] po [2:04:50] Mr. [2:04:50] Chair [2:04:50] maraming [2:04:51] maraming [2:04:51] salamat [2:04:52] Thank you [2:04:52] very much [2:04:53] we now [2:04:54] call on [2:04:54] our [2:04:54] next [2:04:55] Mr. [2:04:56] Chair [2:04:56] Yes [2:04:58] short [2:04:59] can I [2:05:01] call [2:05:01] first [2:05:01] on [2:05:02] you [2:05:03] and [2:05:03] then [2:05:03] Congressman [2:05:04] Vergara [2:05:05] because [2:05:05] he's been [2:05:05] raising [2:05:06] his hand [2:05:06] much [2:05:06] earlier [2:05:07] Go ahead [2:05:08] quickly [2:05:08] Kong [2:05:09] Artie [2:05:10] Thank you [2:05:11] Mr. [2:05:11] Chair [2:05:12] Isabay ko [2:05:12] na lang [2:05:13] po [2:05:13] sa [2:05:13] panawagan [2:05:14] ni [2:05:14] Congresswoman [2:05:15] Montes [2:05:16] Kung [2:05:17] pwedeng [2:05:18] isabay [2:05:19] na [2:05:19] natin [2:05:20] yung [2:05:20] GSIS [2:05:20] Mr. [2:05:21] Chair [2:05:21] at [2:05:21] yung [2:05:22] pag-ibig [2:05:22] at [2:05:22] marinig [2:05:23] po [2:05:23] natin [2:05:23] kung [2:05:24] ano [2:05:24] yung [2:05:24] programa [2:05:24] nila [2:05:25] because [2:05:26] ang [2:05:26] alam [2:05:26] ko [2:05:26] po [2:05:26] yung [2:05:26] GSIS [2:05:27] meron [2:05:27] silang [2:05:28] dedicated [2:05:28] solar [2:05:28] loan [2:05:29] product [2:05:30] yung [2:05:30] Ginawa [2:05:30] solar [2:05:31] energy [2:05:31] loan [2:05:32] yung [2:05:33] sa [2:05:33] pag-ibig [2:05:33] sana [2:05:34] naman [2:05:35] po [2:05:35] marinig [2:05:35] natin [2:05:36] yung [2:05:36] programa [2:05:37] nila [2:05:37] because [2:05:37] a lot [2:05:38] of [2:05:39] our [2:05:39] citizens [2:05:39] want [2:05:40] to [2:05:41] help [2:05:41] in [2:05:42] trying [2:05:42] to [2:05:43] cushion [2:05:43] the [2:05:43] effects [2:05:44] for [2:05:44] themselves [2:05:44] and [2:05:45] they [2:05:45] want [2:05:45] to [2:05:45] act [2:05:46] tulungan [2:05:47] natin [2:05:47] sila [2:05:48] baka [2:05:48] pwede [2:05:48] Mr. [2:05:49] Chair [2:05:49] patawag [2:05:49] rin [2:05:49] po [2:05:50] natin [2:05:50] yung [2:05:50] GSIS [2:05:51] to [2:05:52] hear [2:05:52] their [2:05:52] funding [2:05:52] programs [2:05:53] for [2:05:53] our [2:05:54] citizens [2:05:54] Salamat [2:05:54] Mr. [2:05:55] Chair [2:05:55] We will [2:05:56] call on [2:05:56] those [2:05:56] agencies [2:05:57] also [2:05:58] later [2:05:58] on [2:05:58] in [2:05:59] terms [2:05:59] of [2:05:59] the [2:06:00] other [2:06:00] programs [2:06:01] at [2:06:01] the [2:06:01] appropriate [2:06:01] time [2:06:02] including [2:06:03] the [2:06:03] DTI [2:06:03] Montez [2:06:05] will [2:06:05] also [2:06:06] be [2:06:06] here [2:06:06] on [2:06:06] Wednesday [2:06:07] Councilman [2:06:07] Vergara [2:06:08] for [2:06:08] your [2:06:09] short [2:06:09] interjection [2:06:10] go ahead [2:06:10] please [2:06:11] magandang [2:06:14] tangali [2:06:15] po [2:06:16] yung [2:06:18] una po [2:06:19] ay [2:06:20] konting [2:06:21] pagpapasaramat [2:06:25] sa ating [2:06:25] Speaker [2:06:26] sa ating [2:06:27] Chairman [2:06:28] Honorable [2:06:29] Chairman [2:06:30] at saka [2:06:31] sa aking [2:06:32] mga [2:06:32] colleagues [2:06:33] ito pong [2:06:36] Executive [2:06:38] Order [2:06:38] Number 110 [2:06:39] ay [2:06:40] kailangan pong [2:06:41] pagtulong [2:06:42] tulungan [2:06:42] talaga [2:06:43] natin [2:06:43] at [2:06:45] nang [2:06:45] mailagay [2:06:46] po [2:06:46] sa ayos [2:06:47] yung [2:06:48] ating [2:06:48] bansa [2:06:49] number [2:06:53] one [2:06:53] po [2:06:53] sa [2:06:56] food [2:06:56] security [2:06:57] naisip [2:07:00] po [2:07:00] kaya [2:07:00] na [2:07:03] nang [2:07:05] mga [2:07:06] narito [2:07:07] ngayon [2:07:08] na habang [2:07:09] bigay tayo [2:07:09] ng bigay [2:07:10] ng mga [2:07:11] ayuda [2:07:11] eh [2:07:13] kukulangin [2:07:14] din [2:07:15] yung [2:07:16] magsasaka [2:07:16] pagdating [2:07:18] na [2:07:18] sa [2:07:19] susunod [2:07:20] na [2:07:20] yan [2:07:20] ngayong [2:07:22] panahon [2:07:23] na to [2:07:23] masaya [2:07:25] magsasaka [2:07:26] dahil [2:07:27] nung [2:07:27] bumili [2:07:27] sila [2:07:28] ng [2:07:28] fertilizer [2:07:29] na [2:07:29] at [2:07:30] mga [2:07:31] inputs [2:07:31] ay [2:07:33] pawang [2:07:34] mura [2:07:34] pa [2:07:35] ngayon [2:07:36] binibenta [2:07:36] nila [2:07:37] per kilo [2:07:38] ng [2:07:39] magandang [2:07:40] presyo [2:07:40] pero [2:07:42] pagdating [2:07:43] sa [2:07:44] susunod [2:07:45] tumaas na [2:07:47] po [2:07:47] yung [2:07:48] halaga [2:07:48] ng [2:07:50] farm [2:07:50] inputs [2:07:51] fertilizers [2:07:53] bukod [2:07:54] doon [2:07:54] sa [2:07:54] problema [2:07:56] natin [2:07:57] sa [2:07:58] langis [2:07:59] ganoon [2:08:01] din [2:08:01] naman [2:08:01] po [2:08:01] ang [2:08:01] ating [2:08:02] mga [2:08:02] mangista [2:08:03] papalawod [2:08:08] sila [2:08:09] kailangan [2:08:11] na yung [2:08:11] gasolina [2:08:12] diesel [2:08:13] pag [2:08:15] buwi sila [2:08:16] diesel [2:08:17] din [2:08:17] ang [2:08:17] kailangan [2:08:18] nila [2:08:18] ito [2:08:23] pong [2:08:23] pinag-uusapan [2:08:25] kanina [2:08:25] pa [2:08:25] hinggil [2:08:26] sa [2:08:27] LPG [2:08:29] hello [2:08:31] Arnel [2:08:32] matagal [2:08:33] na tayo [2:08:33] din [2:08:34] nakita [2:08:34] at [2:08:36] yung [2:08:38] mga [2:08:38] representante [2:08:39] ng [2:08:39] malalaking [2:08:40] oil [2:08:42] company [2:08:43] at [2:08:43] saka [2:08:43] mga [2:08:46] representante [2:08:47] ng [2:08:48] napapagkausapan [2:08:50] po namin [2:08:51] rito [2:08:51] kanina [2:08:51] ang isang [2:08:53] bagay [2:08:53] pwede [2:08:56] naman [2:08:56] tiisin [2:08:57] yung [2:08:57] lahat [2:08:58] na yan [2:08:58] kasi [2:08:59] nagtatawa [2:09:03] na kami [2:09:04] ng konti [2:09:04] tatlo [2:09:05] kami [2:09:05] rito [2:09:06] hindi [2:09:06] ko [2:09:06] nababangit [2:09:07] kasi [2:09:07] may [2:09:09] hoarding [2:09:09] pa rin [2:09:10] naman [2:09:10] saka [2:09:11] may [2:09:11] smuggling [2:09:12] pa rin [2:09:12] naman [2:09:13] so [2:09:15] yung [2:09:18] mga [2:09:18] inaalala [2:09:19] nyo [2:09:20] yung [2:09:21] inaalala [2:09:21] po nyo [2:09:22] pagdating [2:09:23] sa mga [2:09:23] gasolinahan [2:09:25] eh [2:09:27] sorry [2:09:30] sila [2:09:31] yun po [2:09:32] ang aking [2:09:33] salta [2:09:34] sorry [2:09:35] sila [2:09:38] dahil [2:09:38] meron [2:09:39] namang [2:09:39] kinikita [2:09:40] sila [2:09:41] dun [2:09:43] sa [2:09:43] dalawang [2:09:43] bagay [2:09:44] na yan [2:09:44] hoarding [2:09:46] and [2:09:47] smuggling [2:09:47] so [2:09:50] ang [2:09:50] kailangan [2:09:51] po [2:09:51] natin [2:09:51] tunay [2:09:52] na [2:09:53] solusyon [2:09:54] at [2:09:57] konting [2:09:59] tibay [2:10:01] ng loob [2:10:01] natanggihan [2:10:04] yung [2:10:04] malalaking [2:10:05] intereses [2:10:07] sa ating [2:10:08] bansa [2:10:08] na nananai [2:10:11] yung [2:10:13] kanilang [2:10:13] mga [2:10:14] labig [2:10:14] group [2:10:14] dito [2:10:16] sa atin [2:10:17] thank you [2:10:19] manong [2:10:19] e sa [2:10:21] elektricidad [2:10:22] po [2:10:22] nababahala [2:10:26] ang lahat [2:10:27] kung ito [2:10:29] bay [2:10:29] tataas [2:10:30] o [2:10:31] bababa [2:10:32] ito bay [2:10:35] magkakaroon [2:10:35] ng rotational [2:10:36] burnout [2:10:37] ng mga [2:10:39] kasamang [2:10:40] lalo [2:10:40] sa ating [2:10:42] ekonomiya [2:10:43] okay [2:10:48] manong [2:10:48] manong [2:10:48] manong [2:10:49] we can [2:10:50] call on [2:10:50] you [2:10:50] later [2:10:51] manong [2:10:51] so [2:10:51] you [2:10:51] can [2:10:52] ask [2:10:52] and [2:10:52] propound [2:10:53] questions [2:10:53] directly [2:10:54] we will [2:10:54] give you [2:10:55] okay [2:10:55] na ba [2:10:55] tayo [2:10:56] o [2:10:56] yun lang [2:10:57] po [2:10:57] ang [2:10:57] gusto [2:10:57] ko [2:10:57] sabihin [2:10:58] mr. [2:10:58] chair [2:10:59] para [2:11:00] lang [2:11:00] po [2:11:00] maliwanagan [2:11:02] ang [2:11:03] aking [2:11:03] lang [2:11:03] gusto [2:11:04] ko [2:11:04] lang [2:11:04] makipagtulungan [2:11:06] maraming [2:11:07] salamat [2:11:07] si congressman [2:11:08] jay [2:11:08] nang galing [2:11:09] pa [2:11:09] ng [2:11:09] kabanatuan [2:11:10] niya [2:11:10] para [2:11:10] mag-attend [2:11:10] lang [2:11:11] sa [2:11:11] hearing [2:11:11] natin [2:11:11] today [2:11:12] so [2:11:13] maraming [2:11:13] salamat [2:11:14] po [2:11:14] manong [2:11:14] so [2:11:15] yun po [2:11:16] ang akin [2:11:17] lamang [2:11:17] at [2:11:18] nakita [2:11:19] nga po [2:11:19] kami [2:11:20] ni [2:11:20] secretary [2:11:20] katsal [2:11:21] diyan [2:11:21] nung [2:11:21] 8 [2:11:22] mabuti [2:11:24] nga [2:11:24] po [2:11:24] kayo [2:11:24] panayampunta [2:11:25] ni [2:11:25] secretary [2:11:26] katsal [2:11:26] diyan [2:11:26] sa inyo [2:11:27] nababalitaan [2:11:28] nung [2:11:28] tuloy [2:11:29] namin [2:11:29] natuloy [2:11:30] tuloy [2:11:30] ang ayuda [2:11:31] doon [2:11:31] mabuti [2:11:32] naman [2:11:32] at [2:11:32] natutulungan [2:11:33] ng mga [2:11:34] tagan [2:11:34] nueva [2:11:34] siya [2:11:34] maraming [2:11:35] salamat [2:11:35] manong [2:11:36] maraming [2:11:37] maraming [2:11:37] salamat [2:11:37] po [2:11:38] mr. [2:11:38] chair [2:11:38] may [2:11:39] i [2:11:42] be [2:11:42] recognized [2:11:42] go [2:11:43] ahead [2:11:43] congressman [2:11:44] just [2:11:46] a short [2:11:46] input [2:11:47] on the [2:11:47] inquiry [2:11:48] of [2:11:48] honorable [2:11:49] montes [2:11:50] about [2:11:50] the [2:11:50] strategic [2:11:51] oil [2:11:51] reserve [2:11:51] currently [2:11:53] in our [2:11:53] country [2:11:54] we have [2:11:54] over [2:11:56] capacity [2:11:57] in terms [2:11:57] of storage [2:11:58] of [2:11:58] lpg [2:11:59] and even [2:12:00] fuel [2:12:00] that are [2:12:01] not [2:12:01] maximized [2:12:02] currently [2:12:02] that is [2:12:03] probably [2:12:04] the [2:12:04] do [2:12:05] is [2:12:05] proposing [2:12:06] the [2:12:06] pnoc [2:12:07] to [2:12:07] enter [2:12:08] and [2:12:08] to [2:12:08] procure [2:12:09] additional [2:12:10] oil [2:12:11] product [2:12:11] for [2:12:12] our [2:12:12] strategy [2:12:13] oil [2:12:13] reserve [2:12:14] which [2:12:14] is [2:12:14] i [2:12:14] think [2:12:15] it [2:12:15] is [2:12:15] a [2:12:15] good [2:12:15] action [2:12:16] taken [2:12:17] by [2:12:17] the [2:12:17] department [2:12:18] of [2:12:18] energy [2:12:18] because [2:12:19] of [2:12:19] the [2:12:19] over [2:12:20] capacity [2:12:20] of [2:12:21] our [2:12:21] storage [2:12:21] facility [2:12:22] in [2:12:22] Luzon [2:12:23] that [2:12:23] over [2:12:24] capacity [2:12:24] can [2:12:25] increase [2:12:26] our [2:12:26] inventory [2:12:28] from [2:12:29] a [2:12:29] 40 [2:12:30] day [2:12:30] for [2:12:30] lpg [2:12:31] to [2:12:31] as [2:12:31] high [2:12:32] as [2:12:32] 75 [2:12:32] days [2:12:33] per [2:12:34] 75 [2:12:36] days [2:12:36] and [2:12:37] in [2:12:37] gasoline [2:12:37] i [2:12:38] think [2:12:38] from [2:12:39] a [2:12:39] 55 [2:12:40] 60 [2:12:40] days [2:12:41] to [2:12:41] at [2:12:41] least [2:12:41] 100 [2:12:42] days [2:12:42] if [2:12:43] all [2:12:44] of [2:12:44] those [2:12:44] storage [2:12:45] facility [2:12:46] that [2:12:46] are [2:12:46] not [2:12:47] being [2:12:47] used [2:12:47] right [2:12:48] now [2:12:48] can [2:12:49] be [2:12:49] maximized [2:12:49] that's [2:12:50] all [2:12:50] Mr. [2:12:50] Chair [2:12:51] Thank you [2:12:52] very much [2:12:53] so [2:12:54] do we [2:12:55] take [2:12:55] it [2:12:55] to [2:12:55] mean [2:12:56] because [2:12:56] we [2:12:56] were [2:12:56] given [2:12:56] the [2:12:57] impression [2:12:57] the [2:12:57] last [2:12:57] time [2:12:58] that [2:12:58] our [2:12:58] storage [2:12:59] capacity [2:12:59] is [2:12:59] almost [2:13:00] to [2:13:01] the [2:13:01] brim [2:13:01] today [2:13:02] that's [2:13:03] not [2:13:03] accurate [2:13:04] Mr. [2:13:04] Chair [2:13:04] so [2:13:05] that's [2:13:06] very [2:13:06] very [2:13:06] informative [2:13:08] Mr. [2:13:10] Yusek [2:13:10] paliwanag [2:13:12] nyo [2:13:12] nga [2:13:12] yun [2:13:12] kasi [2:13:12] nagtatanong [2:13:13] tayo [2:13:13] dito [2:13:13] diba [2:13:14] ano [2:13:14] ba [2:13:14] pwedeng [2:13:14] gawin [2:13:15] Mr. [2:13:16] Chair [2:13:16] thank [2:13:16] you [2:13:17] I'd [2:13:17] just [2:13:17] like [2:13:17] to [2:13:17] explain [2:13:18] but [2:13:18] I [2:13:19] think [2:13:19] it's [2:13:20] the [2:13:20] type [2:13:20] of [2:13:21] fuel [2:13:21] products [2:13:22] as [2:13:22] well [2:13:22] so [2:13:23] tama [2:13:24] po [2:13:24] si [2:13:25] Konti [2:13:26] pero [2:13:26] a lot [2:13:27] of [2:13:27] that [2:13:27] spare [2:13:28] in [2:13:28] terms [2:13:28] sa [2:13:28] fuel [2:13:29] ay [2:13:29] sa [2:13:30] liquid [2:13:30] ay [2:13:31] nasa [2:13:31] ibang [2:13:31] fuel [2:13:33] ngayon [2:13:33] so [2:13:34] pwede [2:13:34] naman [2:13:35] lilinisin [2:13:35] yung [2:13:39] white [2:13:40] products [2:13:41] diesel [2:13:41] gasoline [2:13:42] kerosene [2:13:44] kasi [2:13:44] ibang [2:13:45] storage [2:13:45] will be [2:13:46] fuel [2:13:46] oil [2:13:47] na [2:13:47] black [2:13:49] product [2:13:50] katulad [2:13:50] ng [2:13:50] crude oil [2:13:51] so [2:13:52] pwedeng [2:13:53] i-optimize [2:13:54] and I think [2:13:55] part [2:13:55] ng planning [2:13:56] ng strategic [2:13:57] petroleum [2:13:57] reserve [2:13:58] exactly [2:13:59] that [2:13:59] na [2:13:59] mayutilize [2:14:00] yung [2:14:00] existing [2:14:01] i-convert [2:14:02] po [2:14:02] Yusek [2:14:04] simple [2:14:05] lang [2:14:05] pinag-uusapan [2:14:06] dyan [2:14:06] dito [2:14:06] ang daming [2:14:07] pending [2:14:07] bills [2:14:08] on [2:14:09] having [2:14:09] a [2:14:10] strategic [2:14:10] petroleum [2:14:11] reserve [2:14:12] or [2:14:12] petroleum [2:14:12] security [2:14:13] so [2:14:14] kung ano [2:14:14] ba [2:14:14] ng [2:14:15] comments [2:14:15] ninyo [2:14:15] dyan [2:14:16] in light [2:14:16] of [2:14:16] these [2:14:16] other [2:14:17] comments [2:14:17] bigyan [2:14:18] nyo [2:14:18] na kami [2:14:18] ng [2:14:18] position [2:14:19] dyan [2:14:19] para [2:14:19] i-take [2:14:20] up [2:14:20] din [2:14:20] namin [2:14:20] yan [2:14:20] kasi [2:14:20] babagsak [2:14:21] din [2:14:21] sa [2:14:21] committee [2:14:22] natin [2:14:22] yan [2:14:22] eh [2:14:22] we [2:14:23] will [2:14:24] do [2:14:24] that [2:14:24] Mr. [2:14:24] Okay [2:14:25] kasi [2:14:25] that's [2:14:26] one [2:14:26] aspect [2:14:27] something [2:14:27] that we [2:14:28] really [2:14:28] want [2:14:28] to [2:14:28] do [2:14:29] so [2:14:29] that [2:14:29] we [2:14:30] are [2:14:30] more [2:14:30] resilient [2:14:31] in [2:14:31] the [2:14:31] event [2:14:32] of [2:14:32] any [2:14:32] oil [2:14:32] price [2:14:33] shock [2:14:33] that [2:14:34] happens [2:14:34] in [2:14:34] the [2:14:34] future [2:14:35] we [2:14:35] now [2:14:35] call [2:14:36] on [2:14:36] from [2:14:36] the [2:14:36] majority [2:14:37] the [2:14:37] Honorable [2:14:38] Rolando [2:14:38] Valeriano [2:14:40] you have [2:14:40] the floor [2:14:40] after which [2:14:41] is going [2:14:43] to be [2:14:43] Kong [2:14:44] Armand [2:14:44] Dimagila [2:14:44] our last [2:14:45] interpellator [2:14:46] before we [2:14:46] go on [2:14:47] a lunch [2:14:47] break [2:14:48] Thank you [2:14:49] Mr. [2:14:49] Chair [2:14:49] Bago [2:14:50] po [2:14:50] ako [2:14:50] magsimula [2:14:50] gusto [2:14:51] ko [2:14:51] lang [2:14:51] sabihin [2:14:51] na [2:14:52] Secretary [2:14:53] Gatchal [2:14:53] po [2:14:54] hindi [2:14:54] pa [2:14:54] rin [2:14:54] napupunta [2:14:55] sa [2:14:55] distrikto [2:14:55] ng [2:14:56] Maynila [2:14:56] Sa [2:14:58] DOI [2:14:59] family [2:14:59] po [2:15:00] may [2:15:02] I [2:15:02] know [2:15:02] what [2:15:02] is [2:15:03] your [2:15:03] recommendation [2:15:04] to [2:15:04] the [2:15:04] president [2:15:05] in [2:15:05] regards [2:15:05] doon [2:15:06] sa [2:15:06] suspension [2:15:07] or [2:15:07] reduction [2:15:07] ng [2:15:08] excise [2:15:09] tax [2:15:09] to [2:15:10] the [2:15:10] DOI [2:15:11] family [2:15:11] and [2:15:11] next [2:15:12] is [2:15:12] the [2:15:12] DOI [2:15:13] family [2:15:13] DBCC [2:15:18] po [2:15:18] yung [2:15:18] nagbigay [2:15:19] ng [2:15:19] recommendation [2:15:20] DBCC [2:15:21] but [2:15:21] according [2:15:21] to [2:15:21] the [2:15:22] DOI [2:15:22] kanina [2:15:22] they [2:15:23] already [2:15:23] submitted [2:15:24] their [2:15:24] recommendation [2:15:24] to [2:15:25] the [2:15:25] DBCC [2:15:26] may [2:15:26] know [2:15:27] the [2:15:27] recommendation [2:15:27] to [2:15:28] the [2:15:29] president [2:15:29] in [2:15:29] regards [2:15:29] to [2:15:30] the [2:15:30] suspension [2:15:31] of [2:15:31] the [2:15:32] or [2:15:32] reduction [2:15:33] of [2:15:33] excise [2:15:33] tax [2:15:34] are [2:15:36] you [2:15:36] at [2:15:36] liberty [2:15:36] to [2:15:37] reveal [2:15:38] yung [2:15:41] sa [2:15:41] amin [2:15:42] lang [2:15:42] po [2:15:42] ang [2:15:42] from [2:15:43] the [2:15:43] DOF [2:15:44] side [2:15:44] ang [2:15:44] pinadala [2:15:45] lang [2:15:45] po [2:15:45] namin [2:15:45] is [2:15:46] yung [2:15:46] mga [2:15:46] revenue [2:15:47] impact [2:15:48] kung [2:15:49] tatanggalin [2:15:50] yung [2:15:50] mga [2:15:51] excise [2:15:52] tax [2:15:52] then [2:15:53] it's [2:15:54] up [2:15:54] to [2:15:54] the [2:15:54] DBCC [2:15:55] and [2:15:55] the [2:15:55] president [2:15:56] to [2:15:56] decide [2:15:58] kung [2:15:59] alin [2:15:59] doon [2:16:00] yung [2:16:00] tatanggalin [2:16:00] so [2:16:01] maybe [2:16:03] they [2:16:03] are [2:16:04] not [2:16:04] in [2:16:04] the [2:16:04] liberty [2:16:04] to [2:16:05] reveal [2:16:05] the [2:16:06] recommendation [2:16:06] Mr. [2:16:07] Chair [2:16:07] Ma'am [2:16:10] Yusek [2:16:11] Ma'am [2:16:12] Yusek [2:16:13] from [2:16:13] DBM [2:16:14] Ma'am [2:16:15] are you at [2:16:15] liberty [2:16:15] to tell us [2:16:16] what is [2:16:16] the [2:16:17] recommendation [2:16:17] of the [2:16:17] DBCC [2:16:18] in so far [2:16:19] as the [2:16:19] excise [2:16:20] tax [2:16:20] suspension [2:16:20] is concerned [2:16:21] kasi [2:16:21] Mr. [2:16:22] Chair [2:16:22] the [2:16:22] reason [2:16:22] why [2:16:23] I [2:16:23] asked [2:16:23] that [2:16:23] question [2:16:24] magkakampi [2:16:25] naman [2:16:25] po [2:16:25] tayo [2:16:26] the [2:16:26] Congress [2:16:26] and [2:16:27] the [2:16:27] executive [2:16:28] at [2:16:29] bago [2:16:29] tayo [2:16:29] dumating [2:16:30] dyan [2:16:30] sa [2:16:30] recommendation [2:16:31] nila [2:16:31] we held [2:16:33] a [2:16:33] hearing [2:16:33] with the [2:16:34] ways [2:16:35] and [2:16:35] committees [2:16:35] at [2:16:36] nagsuggest [2:16:36] po [2:16:36] tayo [2:16:37] sa [2:16:37] kanila [2:16:37] and [2:16:38] they [2:16:38] suggested [2:16:38] us [2:16:39] to [2:16:39] also [2:16:39] gusto [2:16:41] ko [2:16:41] lang [2:16:41] humalaman [2:16:42] kung [2:16:42] taking [2:16:43] it [2:16:43] seriously [2:16:44] ba [2:16:44] yung [2:16:44] mga [2:16:44] pinag-uusapan [2:16:45] natin [2:16:46] dito [2:16:46] otherwise [2:16:47] baliwala [2:16:48] itong [2:16:48] hearing [2:16:48] natin [2:16:49] kasi [2:16:49] nagsasuggest [2:16:50] tayo [2:16:50] sa [2:16:51] kanila [2:16:51] pero [2:16:52] like [2:16:53] what [2:16:53] I've [2:16:54] heard [2:16:54] willing [2:16:55] ang [2:16:55] PIP [2:16:56] at [2:16:56] ang [2:16:57] LPG [2:16:58] family [2:16:58] para [2:16:59] right [2:17:00] there [2:17:00] and [2:17:01] then [2:17:01] tanggalin [2:17:02] yung [2:17:02] excess [2:17:02] tax [2:17:02] pero [2:17:03] yun [2:17:03] din [2:17:03] po [2:17:04] naman [2:17:04] yung [2:17:04] suggestion [2:17:04] natin [2:17:05] before [2:17:05] na [2:17:06] i-convert [2:17:07] na lang [2:17:07] into [2:17:07] tax [2:17:08] credit [2:17:08] upon [2:17:09] announcement [2:17:09] of [2:17:10] the [2:17:10] president [2:17:10] nang [2:17:10] sa [2:17:10] ganon [2:17:11] maramdamang [2:17:12] ka [2:17:12] agad [2:17:12] kinabukasan [2:17:13] pero [2:17:14] kung [2:17:14] iba [2:17:14] yung [2:17:14] sinasabi [2:17:15] nila [2:17:18] pinag-usapan [2:17:19] natin [2:17:19] at [2:17:19] naniniwala [2:17:20] ako [2:17:20] na [2:17:21] ang [2:17:21] executive [2:17:22] at [2:17:22] ang [2:17:22] congress [2:17:22] magkakampi [2:17:23] naman [2:17:23] dito [2:17:24] sa [2:17:24] issue [2:17:24] na [2:17:24] to [2:17:24] may [2:17:28] another [2:17:29] answer [2:17:29] from [2:17:29] the [2:17:29] DBCC [2:17:30] Yes [2:17:36] Mr. [2:17:37] Chair [2:17:37] while [2:17:38] the [2:17:39] recommendation [2:17:40] by the [2:17:41] DOF [2:17:41] was presented [2:17:42] to the [2:17:42] DBCC [2:17:43] I think [2:17:44] that [2:17:44] the [2:17:45] DOF [2:17:45] is in [2:17:46] a [2:17:46] better [2:17:46] position [2:17:47] to [2:17:47] answer [2:17:48] the [2:17:48] implications [2:17:48] as [2:17:49] far [2:17:49] as [2:17:49] the [2:17:50] revenues [2:17:51] and [2:17:52] the [2:17:52] impact [2:17:52] on [2:17:53] the [2:17:53] deficit [2:17:54] as [2:17:54] well [2:17:55] as [2:17:55] the [2:17:55] ma'am [2:17:55] pinatanong [2:17:56] lang [2:17:56] naman [2:17:56] ano [2:17:56] yung [2:17:56] recommendation [2:17:57] DBCC [2:17:58] ano ba [2:17:59] naging [2:17:59] recommendation [2:17:59] nyo [2:18:00] kung hindi [2:18:00] nyo [2:18:01] pa [2:18:01] pwedeng [2:18:01] sabihin [2:18:02] because [2:18:02] you [2:18:02] don't [2:18:02] want [2:18:03] to [2:18:03] preempt [2:18:03] the [2:18:03] president [2:18:03] sabihin [2:18:04] nyo [2:18:04] na [2:18:04] po [2:18:05] di ba [2:18:06] huwag [2:18:06] na [2:18:06] magturuan [2:18:07] because [2:18:09] we [2:18:10] will [2:18:10] respect [2:18:10] that [2:18:11] Yeah [2:18:11] Mr. [2:18:12] Chair [2:18:12] we [2:18:13] don't [2:18:13] want [2:18:13] to [2:18:14] preempt [2:18:14] any [2:18:15] announcement [2:18:15] Go ahead [2:18:17] Congressman [2:18:18] Valeriano [2:18:18] Thank [2:18:19] you [2:18:20] Mr. [2:18:20] Chair [2:18:20] O [2:18:21] sa [2:18:21] DOI [2:18:21] family [2:18:22] na [2:18:22] po [2:18:22] narinig [2:18:27] in [2:18:28] March [2:18:28] April [2:18:29] 10 [2:18:30] and [2:18:30] by [2:18:31] April [2:18:31] 16 [2:18:32] meron [2:18:32] pang [2:18:32] parating [2:18:33] tama [2:18:33] po [2:18:33] ba [2:18:33] yun [2:18:34] Yes [2:18:37] Mr. [2:18:37] Chair [2:18:37] And [2:18:38] that [2:18:38] is [2:18:38] diesel [2:18:39] and [2:18:39] gasoline [2:18:39] Diesel [2:18:41] lang [2:18:41] po [2:18:41] Why [2:18:45] diesel [2:18:45] lang [2:18:46] bakit [2:18:46] hindi [2:18:46] gasoline [2:18:47] Well [2:18:49] when [2:18:50] we [2:18:50] started [2:18:51] po [2:18:51] yung [2:18:51] program [2:18:51] mas [2:18:52] lower [2:18:54] level [2:18:54] ng [2:18:55] inventory [2:18:55] at [2:18:55] mas [2:18:56] malaki [2:18:56] ang [2:18:56] impact [2:18:57] po [2:18:57] ng [2:18:57] diesel [2:18:58] sa [2:18:58] karaniwang [2:18:59] mamayan [2:19:00] ginagamit [2:19:01] mostly [2:19:02] sa [2:19:02] transport [2:19:03] ng [2:19:03] tao [2:19:04] at [2:19:04] saka [2:19:04] ng [2:19:04] goods [2:19:05] so [2:19:05] yung [2:19:05] impact [2:19:06] niya [2:19:06] kung [2:19:07] maubusan [2:19:08] tayo [2:19:09] mas [2:19:09] malaki [2:19:09] talaga [2:19:10] yung [2:19:10] impact [2:19:11] so [2:19:11] nag [2:19:11] focus [2:19:12] po [2:19:12] tayo [2:19:12] sa [2:19:12] diesel [2:19:13] yung [2:19:14] pag [2:19:14] import [2:19:14] And may [2:19:15] I know [2:19:15] whose [2:19:16] government [2:19:17] agency [2:19:17] talaga [2:19:17] yung [2:19:18] DOE [2:19:19] po [2:19:19] ba [2:19:19] PNOC [2:19:20] sino [2:19:20] po [2:19:20] Hindi [2:19:21] po [2:19:21] Ang [2:19:22] bumili [2:19:22] po [2:19:22] ng [2:19:23] diesel [2:19:23] at [2:19:23] nag [2:19:24] import [2:19:24] ay [2:19:24] ang [2:19:24] PNOC [2:19:25] Exploration [2:19:26] Corporation [2:19:27] So [2:19:28] pero [2:19:28] nag [2:19:29] report [2:19:29] na rin [2:19:29] po [2:19:29] sa [2:19:29] nyo [2:19:30] all [2:19:30] alam [2:19:30] nyo [2:19:31] na [2:19:31] talaga [2:19:31] yung [2:19:32] istorya [2:19:33] ng [2:19:33] diesel [2:19:33] Asan [2:19:34] po [2:19:34] siya [2:19:34] ngayon? [2:19:35] Saan [2:19:35] nyo [2:19:35] in-stock? [2:19:36] Yan ba [2:19:37] nasa [2:19:37] market [2:19:38] na [2:19:38] what [2:19:38] happened [2:19:39] to [2:19:39] the [2:19:39] importation [2:19:40] noong [2:19:40] last week [2:19:41] ng [2:19:41] March [2:19:42] and [2:19:42] April [2:19:42] 10? [2:19:44] Yung [2:19:45] last week [2:19:45] ng [2:19:45] March [2:19:46] po [2:19:46] nasa [2:19:47] nakastore [2:19:47] sa [2:19:48] dalawan [2:19:49] location [2:19:50] sa [2:19:50] Bangar [2:19:51] Locos [2:19:52] yung [2:19:53] isang [2:19:53] location [2:19:54] nasa [2:19:54] Batangas [2:19:55] po [2:19:55] nasa [2:19:56] commercial [2:19:57] facility [2:19:57] ng [2:19:58] Sea [2:19:59] Oil [2:19:59] Ito [2:20:00] dumating [2:20:00] na [2:20:01] natapos [2:20:01] lang [2:20:02] yung [2:20:02] unloading [2:20:03] ngayong [2:20:03] umaga [2:20:03] nakastore [2:20:04] po [2:20:05] sa [2:20:05] Philippine [2:20:06] Coastal [2:20:06] sa [2:20:07] Subic [2:20:08] Bay [2:20:08] Philippine [2:20:09] Coastal [2:20:10] by [2:20:14] at this [2:20:15] point of [2:20:15] time [2:20:16] alam [2:20:17] nyo na [2:20:17] unlanded [2:20:18] cost [2:20:18] ng [2:20:18] diesel [2:20:19] per [2:20:20] liter [2:20:20] nasa [2:20:22] PNOC [2:20:22] po [2:20:23] PNOC [2:20:24] EC [2:20:24] so [2:20:25] marami [2:20:25] pang [2:20:26] binabayaran [2:20:27] ito [2:20:27] meron ba tayo [2:20:28] representative [2:20:28] from the [2:20:29] PNOC [2:20:29] wala [2:20:32] meron [2:20:33] meron tayo [2:20:33] we have [2:20:34] a representative [2:20:34] from PNOC [2:20:35] here [2:20:35] PNOC [2:20:37] can we [2:20:39] ask the [2:20:40] PNOC [2:20:41] representative [2:20:41] where [2:20:42] you [2:20:42] baka [2:20:49] masagot [2:20:49] na rin [2:20:49] ang [2:20:49] D.O. [2:20:50] ito [2:20:50] kasi [2:20:50] my [2:20:50] question [2:20:51] is [2:20:51] alam [2:20:52] nyo [2:20:52] na [2:20:52] hu [2:20:52] ba [2:20:53] kung [2:20:53] nag-overpriced [2:20:54] yung [2:20:54] mga [2:20:54] oil [2:20:54] player [2:20:55] since [2:20:55] kayo [2:20:55] mismo [2:20:56] nag-import [2:20:56] na rin [2:20:57] ng [2:20:57] diesel [2:20:57] meron [2:21:03] na [2:21:03] kaya [2:21:03] landed [2:21:03] cost [2:21:04] yan [2:21:04] meron [2:21:06] na po [2:21:06] yung [2:21:07] unang [2:21:08] cargo [2:21:08] po [2:21:08] I [2:21:09] think [2:21:09] mga [2:21:09] lumalabas [2:21:11] na [2:21:11] 120 [2:21:11] pesos [2:21:12] per [2:21:13] liter [2:21:13] around [2:21:14] that [2:21:15] and [2:21:15] they [2:21:16] selling [2:21:16] it [2:21:16] for [2:21:16] 160 [2:21:17] 170 [2:21:18] so [2:21:18] overpriced [2:21:19] yung [2:21:19] oil [2:21:20] player [2:21:20] hindi [2:21:20] pa [2:21:21] po [2:21:21] binibenta [2:21:22] dahil [2:21:22] ang [2:21:22] intention [2:21:23] dito [2:21:23] is [2:21:24] buffer [2:21:24] stocking [2:21:25] po [2:21:25] ng [2:21:25] yeah [2:21:26] but [2:21:26] I [2:21:27] mean [2:21:27] the [2:21:27] landed [2:21:28] cost [2:21:28] is [2:21:28] 120 [2:21:29] pesos [2:21:29] kaya [2:21:32] nga [2:21:32] po [2:21:32] so [2:21:33] lagyan [2:21:33] mo [2:21:33] ng [2:21:34] interest [2:21:34] na [2:21:34] 20 [2:21:35] pesos [2:21:35] 140 [2:21:36] pesos [2:21:36] lang [2:21:37] dapat [2:21:37] ang [2:21:37] diesel [2:21:37] so [2:21:38] will [2:21:38] you [2:21:39] agree [2:21:39] to [2:21:39] me [2:21:39] na [2:21:40] nag-overpriced [2:21:41] ang [2:21:41] oil [2:21:41] player [2:21:42] well [2:21:43] meron [2:21:45] pang [2:21:45] ibang [2:21:45] mga [2:21:46] cost [2:21:46] doon [2:21:46] kasi [2:21:46] yun [2:21:47] lang [2:21:47] nakarating [2:21:48] sa [2:21:48] tank [2:21:49] farm [2:21:49] po [2:21:49] I'm [2:21:50] Mr. [2:21:50] DOA [2:21:51] I'm [2:21:52] asking [2:21:52] for [2:21:52] the [2:21:53] landed [2:21:53] cost [2:21:53] so [2:21:53] what [2:21:54] other [2:21:54] cost [2:21:55] are [2:21:55] you [2:21:55] talking [2:21:55] about [2:21:59] tank [2:21:59] to [2:21:59] the [2:22:00] bulk [2:22:00] kaya [2:22:01] nga [2:22:01] po [2:22:01] landed [2:22:01] cost [2:22:02] yung [2:22:02] total [2:22:03] cost [2:22:03] is [2:22:04] 120 [2:22:04] sinagot [2:22:05] nyo [2:22:05] ako [2:22:05] diba [2:22:05] ay [2:22:06] ang [2:22:06] landed [2:22:07] cost [2:22:07] po [2:22:07] dun [2:22:08] lang [2:22:08] po [2:22:08] sa [2:22:08] import [2:22:09] terminal [2:22:10] na [2:22:10] naka [2:22:10] store [2:22:11] po [2:22:11] yung [2:22:12] pag [2:22:12] distribute [2:22:13] pa [2:22:13] sa [2:22:13] mga [2:22:14] ibang [2:22:14] facilities [2:22:15] ng [2:22:15] storage [2:22:16] papunta [2:22:16] hanggang [2:22:17] sa [2:22:17] retail [2:22:18] na [2:22:18] gasolina [2:22:19] wala [2:22:19] pa [2:22:19] po [2:22:20] So [2:22:20] additional [2:22:20] tayo [2:22:21] ng [2:22:21] 10 [2:22:21] pesos [2:22:21] 130 [2:22:22] pesos [2:22:23] yun [2:22:24] lang [2:22:24] po [2:22:24] yun [2:22:25] dahil [2:22:25] 2 [2:22:25] pesos [2:22:25] per [2:22:26] liter [2:22:26] lang [2:22:26] naman [2:22:26] nagbabahid [2:22:28] kayo [2:22:28] ng depo [2:22:31] may storage [2:22:31] people [2:22:32] that is [2:22:33] 2 pesos [2:22:33] per [2:22:33] liter [2:22:34] diba [2:22:34] hindi [2:22:36] po [2:22:36] certain [2:22:37] about [2:22:37] Pero [2:22:37] anyway [2:22:38] will you [2:22:38] agree [2:22:38] to [2:22:39] me [2:22:39] na [2:22:39] over [2:22:39] price [2:22:40] ngayon [2:22:40] yung [2:22:40] diesel [2:22:41] na [2:22:41] mga [2:22:42] oil [2:22:42] player [2:22:42] compared [2:22:43] to [2:22:43] the [2:22:44] diesel [2:22:45] imported [2:22:46] by [2:22:46] the [2:22:46] government [2:22:47] Nasa [2:22:51] price [2:22:51] range [2:22:52] pa [2:22:52] rin [2:22:52] po [2:22:52] Depende [2:22:53] kasi [2:22:54] yung [2:22:54] in-import [2:22:55] po [2:22:55] natin [2:22:56] sa [2:22:56] gobyerno [2:22:57] nandun [2:22:57] pa [2:22:58] lang [2:22:58] sa [2:22:58] terminal [2:22:59] sa [2:23:00] import [2:23:00] terminal [2:23:01] So [2:23:01] may [2:23:01] additional [2:23:02] cost [2:23:02] yung [2:23:02] logistics [2:23:03] cost [2:23:03] distribution [2:23:04] cost [2:23:05] hanggang [2:23:05] dun [2:23:06] sa [2:23:06] margin [2:23:07] ng [2:23:07] gasolin [2:23:08] So [2:23:09] kung [2:23:09] naparating [2:23:10] natin [2:23:11] dun sa [2:23:11] 140 [2:23:13] I think [2:23:13] the maximum [2:23:14] is 140 [2:23:15] pesos [2:23:15] per liter [2:23:16] kung [2:23:17] ilalagay [2:23:18] may logistic [2:23:19] cost [2:23:19] tsaka [2:23:20] yung [2:23:20] tubo [2:23:22] ng [2:23:22] gasolin [2:23:23] So [2:23:23] will you [2:23:24] agree [2:23:24] to me [2:23:25] na [2:23:25] meron [2:23:26] talagang [2:23:26] overpricing [2:23:28] ang oil [2:23:29] player [2:23:29] as [2:23:30] government [2:23:31] entity [2:23:32] tayo [2:23:32] naman [2:23:33] po [2:23:33] magkakampi [2:23:33] rito [2:23:34] Ang [2:23:35] presyuhan [2:23:36] ngayon [2:23:36] bago [2:23:37] nag [2:23:37] decrease [2:23:38] was [2:23:38] between [2:23:38] 140 [2:23:39] to [2:23:39] 150 [2:23:40] yung [2:23:41] pinakamataas [2:23:42] yung [2:23:42] nasa [2:23:42] 150 [2:23:43] plus [2:23:45] So [2:23:45] sa level [2:23:46] ng [2:23:46] 140 [2:23:47] parang [2:23:48] yun [2:23:48] ang [2:23:48] yun [2:23:49] yun [2:23:49] yun [2:23:49] yun [2:23:49] yun [2:23:49] yun [2:23:49] yun [2:23:50] yun [2:23:50] yun [2:23:50] yun [2:23:50] yun [2:23:50] yun [2:23:50] yun [2:23:50] yun [2:23:50] yun [2:23:51] yun [2:23:52] yun [2:23:54] landed [2:23:55] cost [2:23:55] and [2:23:56] yun [2:23:56] yun [2:23:56] other [2:23:57] cost [2:23:58] to get [2:23:59] it [2:23:59] sa [2:24:00] gasolinahan [2:24:01] maabot [2:24:02] ng [2:24:02] 140 [2:24:03] 140 [2:24:03] plus [2:24:04] So [2:24:05] sa [2:24:05] 140 [2:24:06] plus [2:24:06] reasonable [2:24:07] pricing [2:24:08] po [2:24:08] nagsimula [2:24:11] tayo [2:24:11] sa [2:24:11] 120 [2:24:11] kanina [2:24:12] Mr. [2:24:12] Undersecretary [2:24:13] pataas na tayo [2:24:15] ng pataas [2:24:16] baka [2:24:16] malugi pa tayo [2:24:17] sa computation [2:24:18] mo [2:24:18] So [2:24:19] magkano [2:24:20] what do you [2:24:21] think [2:24:21] what is [2:24:21] the [2:24:22] what will [2:24:23] be the [2:24:23] selling [2:24:23] price [2:24:24] ng [2:24:24] PNOC [2:24:26] kapag [2:24:26] binenta [2:24:26] na sa [2:24:27] merkado [2:24:27] to [2:24:27] In your [2:24:28] experience [2:24:30] as [2:24:30] Undersecretary [2:24:31] ng DOE [2:24:32] siguro [2:24:33] naman [2:24:33] ang tagal [2:24:34] na nilang [2:24:34] nagre-report [2:24:35] sa inyo [2:24:35] alam nyo [2:24:36] na [2:24:36] how much [2:24:37] will be [2:24:37] the [2:24:37] cost [2:24:38] per liter [2:24:39] of [2:24:39] the [2:24:40] diesel [2:24:40] kapag [2:24:41] gobyerno [2:24:42] nagbenta [2:24:42] Well [2:24:44] based po [2:24:44] dun sa [2:24:45] yung [2:24:46] tinatawag [2:24:47] na [2:24:48] namin [2:24:48] yung [2:24:51] take [2:24:51] yung [2:24:52] company [2:24:53] take [2:24:53] kasi [2:24:54] lahat [2:24:54] nung [2:24:54] iba [2:24:54] nakocompute [2:24:55] po [2:24:55] natin [2:24:56] yung [2:24:57] cost [2:24:57] yung [2:24:57] premium [2:24:58] insurance [2:24:59] yung [2:25:00] freight [2:25:01] tapos [2:25:02] yung [2:25:03] balance [2:25:04] lumalabas [2:25:05] na [2:25:05] nilang [2:25:06] lamp [2:25:06] namin [2:25:07] na [2:25:07] industry [2:25:08] take [2:25:09] So [2:25:10] part [2:25:10] nung [2:25:10] industry [2:25:10] take [2:25:11] yung [2:25:11] sinasabi [2:25:12] nga [2:25:12] namin [2:25:12] kanina [2:25:13] na [2:25:13] yung [2:25:14] buong [2:25:14] in-country [2:25:15] logistics [2:25:16] tapos [2:25:16] yung [2:25:17] profit [2:25:17] ng [2:25:18] kumpanya [2:25:18] So [2:25:19] itong [2:25:20] pinarating [2:25:21] ng [2:25:21] PNOC [2:25:22] na unang [2:25:22] cargo [2:25:23] nasa [2:25:23] 123 [2:25:24] pesos [2:25:25] ang [2:25:25] landed [2:25:26] cost [2:25:26] po [2:25:26] So [2:25:27] kung [2:25:28] PNOC [2:25:29] ibenta [2:25:30] na [2:25:30] walang [2:25:31] profit [2:25:33] hindi na [2:25:33] natin [2:25:34] igagalaw [2:25:35] hanggang [2:25:35] gasolinahan [2:25:36] at cost [2:25:39] natin [2:25:40] ibibenta [2:25:40] pero [2:25:41] hanggang [2:25:42] gasolinahan [2:25:43] so [2:25:44] kung [2:25:44] si [2:25:44] PNOC [2:25:45] hanggang [2:25:46] gasolinahan [2:25:47] magbabayad [2:25:48] pa ng [2:25:48] mga [2:25:48] logistics [2:25:50] costs [2:25:50] para [2:25:51] dalin [2:25:51] sa [2:25:52] gasolinahan [2:25:53] siguro [2:25:53] additional [2:25:54] 10-15 [2:25:55] pesos [2:25:55] kasi [2:25:56] ang [2:25:57] parang [2:25:58] compute [2:25:59] ngayon [2:25:59] ang [2:26:00] industry [2:26:00] take [2:26:00] lumalabas [2:26:01] ngayong [2:26:02] period na ito [2:26:04] mga [2:26:04] 10-20% [2:26:07] ang [2:26:08] industry [2:26:09] take [2:26:09] na [2:26:09] doon na [2:26:10] rin [2:26:11] yung [2:26:11] lahat [2:26:11] ng [2:26:11] logistics [2:26:12] costs [2:26:12] na [2:26:13] doon [2:26:13] rin [2:26:13] nakabaon [2:26:14] yung [2:26:14] profit [2:26:15] margin [2:26:16] po [2:26:17] nila [2:26:17] So [2:26:18] it [2:26:19] could [2:26:20] be [2:26:20] yung [2:26:20] 123 [2:26:21] 10% [2:26:22] plus [2:26:23] 12 [2:26:23] to [2:26:23] 24 [2:26:24] pesos [2:26:24] ganun [2:26:25] po [2:26:25] yung [2:26:26] magiging [2:26:27] rate [2:26:27] If ever [2:26:27] ibibenta [2:26:28] na natin [2:26:29] ito [2:26:29] sa [2:26:29] merkado [2:26:30] susunod [2:26:30] din [2:26:31] po [2:26:31] ba [2:26:31] ang [2:26:31] PNOC [2:26:32] sa [2:26:33] industry [2:26:34] practice [2:26:34] na [2:26:34] sinasabi [2:26:35] ng [2:26:35] mga [2:26:36] player [2:26:37] Well [2:26:37] ang [2:26:40] intent [2:26:41] really [2:26:41] ng [2:26:41] importation [2:26:42] nasa [2:26:42] buffer [2:26:43] stock [2:26:43] so [2:26:44] hindi [2:26:46] dapat [2:26:46] magkaroon [2:26:48] ng [2:26:48] kita [2:26:49] mabigay [2:26:50] ng [2:26:50] as [2:26:50] at the [2:26:51] least [2:26:51] cost [2:26:51] So [2:26:52] hindi [2:26:52] nga [2:26:53] po [2:26:53] tayo [2:26:53] susunod [2:26:53] sa [2:26:54] industry [2:26:54] practice [2:26:54] Hindi [2:26:55] po [2:26:56] hindi [2:26:56] tayo [2:26:57] industry [2:26:57] Kung [2:26:58] anong [2:26:58] bili [2:27:00] yun [2:27:00] ang [2:27:00] benta [2:27:01] at [2:27:02] least [2:27:02] ma-recover [2:27:02] yung [2:27:03] cost [2:27:03] kung [2:27:03] kailangan [2:27:04] pa [2:27:04] natin [2:27:04] mag-build [2:27:05] ng [2:27:05] inventory [2:27:06] ang [2:27:07] gobyerno [2:27:09] meron [2:27:09] tayong [2:27:10] mapapaikot [2:27:11] po [2:27:11] na [2:27:11] Thank you [2:27:13] po [2:27:13] Kanina [2:27:13] po [2:27:13] narinig [2:27:14] ko [2:27:14] sinabi [2:27:14] ng [2:27:15] representative [2:27:15] from [2:27:16] the [2:27:16] PIP [2:27:16] Pag [2:27:18] mali [2:27:18] daw [2:27:18] na [2:27:19] player [2:27:19] konti [2:27:19] ang [2:27:20] stock [2:27:20] kawawa [2:27:20] naman [2:27:21] so [2:27:21] dapat [2:27:21] magkaalaman [2:27:22] sila [2:27:23] ng mga [2:27:24] player [2:27:24] para [2:27:25] sa [2:27:25] pricing [2:27:25] at [2:27:26] every [2:27:26] week [2:27:26] nagme-meeting [2:27:28] sila [2:27:28] para [2:27:29] sa [2:27:29] pagdataas [2:27:30] sila [2:27:30] na [2:27:30] every [2:27:30] Tuesday [2:27:31] With [2:27:31] that [2:27:32] Mr. [2:27:33] Yusek [2:27:33] can you [2:27:34] categorically [2:27:35] say [2:27:38] na [2:27:38] meron [2:27:39] talagang [2:27:39] cartel [2:27:40] itong [2:27:40] mga [2:27:40] oil [2:27:40] player [2:27:41] I think [2:27:43] nabanggit [2:27:43] na po [2:27:43] ni [2:27:44] secretary [2:27:44] nung [2:27:45] first [2:27:45] meeting [2:27:45] na [2:27:46] nirefer [2:27:46] na [2:27:46] po [2:27:46] ng [2:27:47] DOE [2:27:48] No [2:27:48] no [2:27:48] no [2:27:48] tinatanong [2:27:49] ko [2:27:49] lang [2:27:50] po [2:27:50] kayo [2:27:51] tingin [2:27:51] nyo [2:27:51] meron [2:27:52] talagang [2:27:52] cartel [2:27:53] well [2:27:53] in your [2:27:54] personal [2:27:54] opinion [2:27:55] Yes [2:27:56] sir [2:27:56] in my [2:27:56] personal [2:27:57] opinion [2:27:57] na [2:27:58] may [2:27:58] makikitang [2:27:59] cartel [2:28:01] like [2:28:01] mga [2:28:02] behavior [2:28:02] pati [2:28:03] sa [2:28:03] movement [2:28:03] ng [2:28:04] market [2:28:04] and [2:28:05] if I [2:28:06] may [2:28:06] be [2:28:06] frank [2:28:07] Mr. [2:28:07] Chair [2:28:08] I [2:28:09] think [2:28:09] part [2:28:11] of [2:28:11] it [2:28:12] was [2:28:12] because [2:28:13] of [2:28:13] the [2:28:14] Tuesday [2:28:15] na [2:28:17] sinabi [2:28:17] ng [2:28:18] gobyerno [2:28:18] Tuesday [2:28:19] ang [2:28:19] adjustment [2:28:20] so [2:28:21] part [2:28:22] of [2:28:22] that [2:28:22] cartel [2:28:25] like [2:28:25] activity [2:28:27] actually [2:28:27] parang [2:28:29] nanggaling [2:28:30] sa [2:28:30] regulation [2:28:32] na [2:28:33] every [2:28:33] Tuesday [2:28:33] kayong [2:28:34] mag [2:28:34] adjust [2:28:35] How about [2:28:36] the [2:28:36] replacement [2:28:37] fee [2:28:38] ano [2:28:38] po [2:28:38] masasabi [2:28:39] nyo [2:28:39] is it [2:28:40] legal [2:28:40] or [2:28:41] is [2:28:41] the [2:28:42] DOE [2:28:42] in [2:28:42] favor [2:28:43] of [2:28:43] that [2:28:43] replacement [2:28:44] fee [2:28:45] the [2:28:45] so [2:28:45] called [2:28:46] replacement [2:28:46] fee [2:28:46] ganito [2:28:47] lang [2:28:47] po [2:28:48] pag [2:28:49] nag [2:28:49] import [2:28:50] ako [2:28:50] ng [2:28:50] bigas [2:28:51] dumating [2:28:52] dito [2:28:52] pagdating [2:28:53] dito [2:28:53] nagbago [2:28:53] ang rate [2:28:54] of [2:28:54] exchange [2:28:55] bumagsak [2:28:56] bigla [2:28:56] dahil [2:28:56] sa [2:28:56] oras [2:28:57] na [2:28:57] malulugay [2:28:59] ko [2:28:59] ang gagawin [2:29:00] ko [2:29:00] sa susunod [2:29:00] babawi [2:29:01] na lang [2:29:01] ako [2:29:01] pero [2:29:02] itong [2:29:02] langis [2:29:03] lumalabas [2:29:03] pag nag-import [2:29:05] ka ng gasoline [2:29:05] and diesel [2:29:06] wala kang [2:29:07] lugay [2:29:07] kasi [2:29:07] nilalagyan [2:29:08] mo [2:29:08] ng [2:29:08] replacement [2:29:09] cost [2:29:09] na [2:29:09] ipinapatong [2:29:10] mo [2:29:10] naman [2:29:11] hindi [2:29:11] ka [2:29:11] nag-impuse [2:29:11] ng [2:29:12] additional [2:29:12] capital [2:29:13] so [2:29:13] what [2:29:14] do you [2:29:14] think [2:29:14] is it [2:29:16] legal [2:29:17] or [2:29:17] tama [2:29:18] lang [2:29:18] is it [2:29:19] a practice [2:29:20] talaga [2:29:20] even [2:29:20] in [2:29:21] other [2:29:21] country [2:29:21] Mr. [2:29:24] Chair [2:29:24] it's [2:29:25] a practice [2:29:26] international [2:29:27] petroleum [2:29:28] industry [2:29:29] in terms [2:29:30] of [2:29:30] legal [2:29:30] hindi [2:29:30] po [2:29:30] makasagot [2:29:31] di [2:29:31] naman [2:29:32] ako [2:29:32] abogado [2:29:32] but [2:29:33] yung [2:29:34] sistema [2:29:36] protects [2:29:37] some [2:29:38] things [2:29:39] I [2:29:39] tend [2:29:40] personally [2:29:41] to [2:29:41] agree [2:29:42] with [2:29:42] the [2:29:42] chairman [2:29:43] that [2:29:44] may [2:29:45] mga [2:29:45] mechanisms [2:29:45] like [2:29:46] potentially [2:29:47] funding [2:29:49] mechanism [2:29:50] to [2:29:50] bridge [2:29:50] para [2:29:51] kung [2:29:52] pataas [2:29:53] ang [2:29:54] presyo [2:29:54] yung [2:29:55] funding [2:29:55] mechanism [2:29:56] can [2:29:56] bridge [2:29:57] yung [2:29:58] gap [2:29:58] and [2:29:58] the [2:29:59] product [2:29:59] can [2:29:59] be [2:29:59] sold [2:30:00] based [2:30:01] on [2:30:02] inventory [2:30:02] values [2:30:03] pero [2:30:04] tama [2:30:04] rin [2:30:05] yung [2:30:05] point [2:30:05] na [2:30:06] pag [2:30:06] wala [2:30:07] silang [2:30:07] pambili [2:30:07] sa [2:30:08] sunod [2:30:08] na [2:30:08] cycle [2:30:09] ang [2:30:09] magiging [2:30:10] problema [2:30:10] natin [2:30:11] physical [2:30:11] shortage [2:30:12] so [2:30:13] yung [2:30:13] suggestion [2:30:16] na [2:30:16] magkaroon [2:30:17] ng [2:30:17] bridge [2:30:18] financing [2:30:19] para [2:30:20] yung [2:30:22] replenishment [2:30:23] po [2:30:23] ng [2:30:24] inventory [2:30:24] ay [2:30:25] maprotektahan [2:30:26] pero [2:30:27] yung [2:30:27] pagbenta [2:30:28] ng [2:30:28] commodity [2:30:29] ay [2:30:30] based [2:30:30] inventory [2:30:32] pricing [2:30:33] kung [2:30:34] ano [2:30:34] na yung [2:30:35] nasa [2:30:35] iyo [2:30:35] na binibenta [2:30:36] then [2:30:37] that [2:30:38] potentially [2:30:38] can [2:30:39] be [2:30:40] done [2:30:41] and [2:30:42] that [2:30:42] is [2:30:42] why [2:30:43] kailangan [2:30:43] ng [2:30:44] mga [2:30:44] revisions [2:30:46] po [2:30:46] sa [2:30:47] batat [2:30:47] Yosek [2:30:48] Yosek [2:30:48] maputol [2:30:49] kita [2:30:49] you are [2:30:50] also [2:30:50] in the [2:30:51] opinion [2:30:51] na [2:30:51] kapag [2:30:52] wala [2:30:52] itong [2:30:53] replacement [2:30:53] pinato [2:30:54] wala [2:30:54] silang [2:30:55] pambili [2:30:55] sa [2:30:55] susunod [2:30:56] pag [2:30:56] tumaas [2:30:57] ang [2:30:57] oil [2:30:57] is [2:30:58] it [2:30:59] true [2:30:59] Petron [2:31:00] Shell [2:31:01] Caltex [2:31:01] and [2:31:02] other [2:31:02] player [2:31:03] wala [2:31:03] silang [2:31:04] pambili [2:31:04] kapag [2:31:05] tumaas [2:31:05] ano [2:31:05] yung [2:31:06] magnitude [2:31:07] rin [2:31:07] po [2:31:07] kasi [2:31:08] pag [2:31:08] tinignan [2:31:09] nyo [2:31:09] yung [2:31:09] daily [2:31:10] consumption [2:31:10] po [2:31:11] natin [2:31:12] diesel [2:31:14] mga [2:31:14] 32 [2:31:15] 33 [2:31:16] million [2:31:16] liters [2:31:17] po [2:31:17] yung [2:31:18] gasolina [2:31:19] mga [2:31:19] 24 [2:31:20] million [2:31:20] so [2:31:21] meron [2:31:22] pang [2:31:22] aviation [2:31:23] fuel [2:31:24] yung [2:31:25] bunker [2:31:26] so [2:31:27] kapag [2:31:28] nag [2:31:29] increase [2:31:29] ng [2:31:29] certain [2:31:30] amount [2:31:30] daily [2:31:31] po [2:31:31] yun [2:31:31] kunwari [2:31:32] nagkaroon tayo [2:31:33] ng [2:31:33] 20 [2:31:33] peso [2:31:34] increase [2:31:34] so [2:31:35] times [2:31:35] 50 [2:31:36] million [2:31:38] liters [2:31:38] na [2:31:39] lang [2:31:39] na [2:31:39] hindi [2:31:40] na [2:31:40] cover [2:31:40] so [2:31:41] yun [2:31:42] yung [2:31:42] dapat [2:31:43] na [2:31:44] either [2:31:45] ma [2:31:45] finance [2:31:46] or [2:31:46] ma [2:31:46] cover [2:31:46] Pero tulad [2:31:47] po nito [2:31:47] Yosek [2:31:48] bago [2:31:49] 60 [2:31:50] dollars [2:31:51] per liter [2:31:51] ang [2:31:52] gasoline [2:31:54] before the [2:31:55] war [2:31:55] then [2:31:56] after [2:31:56] the war [2:31:57] itinaas [2:31:58] nila [2:31:58] na [2:31:58] itinaas [2:31:58] yung [2:31:59] ano [2:31:59] although [2:31:59] it is [2:32:00] an [2:32:00] industry [2:32:00] practice [2:32:01] pero [2:32:01] definitely [2:32:02] walang [2:32:03] capital [2:32:03] na [2:32:04] nadagdag [2:32:04] sa [2:32:04] kanila [2:32:05] except [2:32:06] sa [2:32:06] tubo [2:32:07] at [2:32:08] for [2:32:08] 10,000 [2:32:09] liter [2:32:09] kumita [2:32:10] siya [2:32:10] narito [2:32:10] ng [2:32:11] more [2:32:11] than [2:32:11] 100 [2:32:11] million [2:32:12] pesos [2:32:13] because [2:32:13] of [2:32:14] this [2:32:14] war [2:32:14] definitely [2:32:15] yan [2:32:15] dahil [2:32:16] pabubuksan [2:32:16] din [2:32:16] naman [2:32:16] natin [2:32:17] yung [2:32:17] libro [2:32:17] nila [2:32:17] at [2:32:18] makikita [2:32:19] din [2:32:19] naman [2:32:19] natin [2:32:19] talaga [2:32:20] yan [2:32:20] di ba [2:32:20] kasi [2:32:21] naka [2:32:21] stack [2:32:22] na yan [2:32:22] bayad [2:32:23] na [2:32:23] ang [2:32:24] duties [2:32:24] and [2:32:24] taxes [2:32:24] may [2:32:25] landed [2:32:25] cost [2:32:25] na [2:32:26] yan [2:32:26] pag [2:32:26] putok [2:32:27] ng [2:32:28] gera [2:32:28] yun [2:32:30] ding [2:32:30] gasolina [2:32:31] na [2:32:31] yun [2:32:31] yung [2:32:31] increase [2:32:31] nila [2:32:32] kung [2:32:33] 70 [2:32:33] 60 [2:32:34] pesos [2:32:34] per [2:32:34] liter [2:32:35] yan [2:32:35] nung [2:32:36] pumotok [2:32:36] na [2:32:36] ang [2:32:36] gera [2:32:37] tinataas [2:32:37] nila [2:32:37] yan [2:32:38] ginagawa [2:32:38] nila [2:32:38] 80 [2:32:39] it's [2:32:39] the [2:32:39] same [2:32:39] gasoline [2:32:40] it's [2:32:40] the [2:32:41] same [2:32:41] diesel [2:32:41] na [2:32:42] itinataas [2:32:43] natin [2:32:43] so [2:32:45] definitely [2:32:45] yan [2:32:46] kumita [2:32:47] sila [2:32:47] sa [2:32:48] gera [2:32:48] na [2:32:48] yan [2:32:48] yung [2:32:48] oil [2:32:49] player [2:32:50] na [2:32:50] yan [2:32:50] so [2:32:51] yun [2:32:51] ba [2:32:51] hindi [2:32:52] pa [2:32:56] and [2:32:57] lastly [2:32:58] nalang [2:32:58] sabi [2:32:59] po [2:32:59] kanina [2:32:59] 50% [2:33:00] was [2:33:01] consist [2:33:01] of [2:33:01] pip [2:33:01] 34% [2:33:03] yung [2:33:03] mga [2:33:03] small [2:33:03] player [2:33:04] asan [2:33:05] yung [2:33:05] iba [2:33:05] bakit [2:33:06] 84 [2:33:06] 85% [2:33:07] pa [2:33:07] ito [2:33:08] where [2:33:08] is [2:33:08] the [2:33:08] 15% [2:33:09] importer [2:33:10] sino [2:33:11] sino [2:33:11] yun [2:33:11] hindi [2:33:12] kasali [2:33:13] rosa [2:33:13] ano [2:33:13] nila [2:33:14] ayon [2:33:20] sa [2:33:20] ano [2:33:21] po [2:33:21] mga [2:33:21] asosasyon [2:33:22] hindi [2:33:22] ko [2:33:31] 34% [2:33:32] so [2:33:33] pag [2:33:33] tinotal [2:33:33] 84% [2:33:34] may [2:33:35] nawawala [2:33:35] 16% [2:33:36] smuggling [2:33:37] hindi [2:33:38] po [2:33:38] kasi [2:33:38] asosasyon [2:33:39] yung [2:33:39] iba [2:33:40] hindi [2:33:40] po [2:33:40] member [2:33:41] yun [2:33:42] po [2:33:42] yung [2:33:42] nirepresent [2:33:43] ng [2:33:44] associations [2:33:45] pero [2:33:46] yung [2:33:46] association [2:33:46] po [2:33:47] na [2:33:47] dalawa [2:33:47] yan [2:33:47] mpip [2:33:48] saka [2:33:48] lahat [2:33:49] po [2:33:49] yan [2:33:49] importer [2:33:50] yung [2:33:52] hindi [2:33:52] kasali [2:33:52] sa [2:33:52] kanila [2:33:53] hindi [2:33:53] importer [2:33:54] yun [2:33:54] so [2:33:55] yung [2:33:55] consumo [2:33:55] nilang [2:33:56] nilang [2:33:57] dalawa [2:33:57] dapat [2:33:58] yan [2:33:58] 100% [2:33:59] kasi [2:33:59] wala [2:34:00] naman [2:34:00] tayo [2:34:00] local [2:34:01] dyan [2:34:01] except [2:34:01] the [2:34:01] refinery [2:34:02] natin [2:34:03] yung [2:34:03] petron [2:34:03] diba [2:34:03] ang [2:34:05] petron [2:34:06] naman [2:34:06] nakaka [2:34:06] 30% [2:34:07] kung [2:34:07] 85% [2:34:12] may [2:34:12] nawawala [2:34:12] tayong [2:34:13] 15% [2:34:13] thank you [2:34:17] very much [2:34:17] congressman [2:34:18] valeriano [2:34:19] very important [2:34:20] points [2:34:20] before we [2:34:21] call on [2:34:22] the last [2:34:22] interpellator [2:34:23] there's a [2:34:24] very important [2:34:24] point on [2:34:25] competition [2:34:26] may we [2:34:27] call on [2:34:28] the [2:34:28] philippine [2:34:28] competition [2:34:29] commission [2:34:29] because [2:34:30] this matter [2:34:31] has been [2:34:31] repeatedly [2:34:32] discussed [2:34:32] this weekly [2:34:33] adjustment [2:34:34] we see [2:34:35] the LPG [2:34:35] industry [2:34:36] doing a [2:34:36] monthly [2:34:37] adjustment [2:34:37] what is [2:34:38] the [2:34:39] opinion [2:34:39] of the [2:34:40] philippine [2:34:40] competition [2:34:40] commission [2:34:41] relative [2:34:41] to this [2:34:42] weekly [2:34:42] every [2:34:43] tuesday [2:34:44] habit [2:34:44] of [2:34:45] adjusting [2:34:45] is it [2:34:46] good [2:34:46] for the [2:34:46] economy [2:34:47] is it [2:34:47] good [2:34:48] for [2:34:48] the [2:34:48] consumer [2:34:48] may we [2:34:49] hear [2:34:50] from [2:34:50] you [2:34:50] please [2:34:50] yes [2:34:51] mr. [2:34:52] chair [2:34:52] definitely [2:34:52] it's not [2:34:53] good [2:34:53] for [2:34:53] the [2:34:54] economy [2:34:54] can [2:34:54] you [2:34:54] please [2:34:55] speak [2:34:55] closer [2:34:55] to [2:34:55] the [2:34:56] microphone [2:34:56] can [2:34:56] you [2:34:57] repeat [2:34:57] is it [2:34:57] good [2:34:57] for [2:34:58] the [2:34:58] economy [2:34:58] is it [2:34:58] good [2:34:59] for [2:34:59] the [2:34:59] consumer [2:34:59] go [2:34:59] ahead [2:35:00] definitely [2:35:00] mr. [2:35:02] chair [2:35:02] is not [2:35:02] good [2:35:02] for [2:35:03] the [2:35:03] consumers [2:35:04] and [2:35:04] the [2:35:04] economy [2:35:05] but [2:35:06] in [2:35:06] terms [2:35:06] of [2:35:06] allegation [2:35:07] on [2:35:08] collusion [2:35:08] or [2:35:09] cartel [2:35:10] behavior [2:35:11] as of [2:35:11] now [2:35:12] we [2:35:12] cannot [2:35:12] categorically [2:35:13] say [2:35:15] that there [2:35:15] is [2:35:15] cartel [2:35:16] because [2:35:17] of [2:35:17] our [2:35:17] limited [2:35:18] visibility [2:35:19] of [2:35:19] data [2:35:20] in [2:35:20] the [2:35:20] industry [2:35:20] however [2:35:21] mr. [2:35:22] chair [2:35:22] we've [2:35:23] discussed [2:35:24] this [2:35:24] internally [2:35:24] since [2:35:25] last [2:35:25] month [2:35:26] on [2:35:26] how [2:35:26] we [2:35:26] can [2:35:26] contribute [2:35:27] alleviate [2:35:28] the [2:35:29] effects [2:35:29] of [2:35:29] this [2:35:30] crisis [2:35:30] so [2:35:31] mr. [2:35:31] chair [2:35:32] the [2:35:32] PCC [2:35:32] is [2:35:33] implementing [2:35:33] a [2:35:33] monitoring [2:35:34] plan [2:35:34] that [2:35:35] aims [2:35:35] to [2:35:36] detect [2:35:37] early [2:35:38] signs [2:35:38] of [2:35:38] potential [2:35:39] anti-competitive [2:35:40] conduct [2:35:41] such as [2:35:42] price [2:35:42] fixing [2:35:43] or [2:35:43] collusion [2:35:44] particularly [2:35:44] in [2:35:45] sectors [2:35:46] that [2:35:47] have [2:35:47] a [2:35:48] direct [2:35:48] and [2:35:49] widespread [2:35:50] impact [2:35:50] on [2:35:50] consumers [2:35:51] such [2:35:51] as [2:35:51] oil [2:35:52] so [2:35:52] although [2:35:53] the [2:35:53] PCC [2:35:54] monitoring [2:35:54] strategy [2:35:55] mr. [2:35:56] chair [2:35:56] will [2:35:56] continue [2:35:57] to [2:35:58] develop [2:35:58] in [2:35:58] response [2:35:59] to [2:35:59] the [2:35:59] ongoing [2:36:00] energy [2:36:00] emergency [2:36:01] we [2:36:02] have [2:36:02] these [2:36:03] activities [2:36:05] being [2:36:05] implemented [2:36:06] first [2:36:06] we [2:36:06] have [2:36:06] the [2:36:07] field [2:36:07] based [2:36:08] price [2:36:08] monitoring [2:36:09] in [2:36:09] key [2:36:10] urban [2:36:10] cities [2:36:11] as [2:36:11] of [2:36:11] now [2:36:11] mr. [2:36:12] chair [2:36:12] we [2:36:12] don't [2:36:12] have [2:36:13] presence [2:36:14] in [2:36:15] all [2:36:15] regions [2:36:16] because [2:36:16] we [2:36:16] just [2:36:16] have [2:36:17] the [2:36:17] main [2:36:18] office [2:36:19] here [2:36:19] in [2:36:19] Metro [2:36:19] Manila [2:36:20] but [2:36:20] we [2:36:21] have [2:36:21] temporarily [2:36:21] established [2:36:22] a [2:36:23] kind [2:36:24] of [2:36:24] an [2:36:25] investigation [2:36:25] station [2:36:26] these [2:36:27] are [2:36:27] very [2:36:28] temporary [2:36:28] composed [2:36:30] of [2:36:30] just [2:36:31] three [2:36:31] personnel [2:36:32] so [2:36:32] we [2:36:32] have [2:36:33] one [2:36:34] in [2:36:34] bagu [2:36:34] city [2:36:35] cibu [2:36:36] city [2:36:36] and [2:36:38] davos [2:36:38] city [2:36:38] so [2:36:40] where [2:36:41] we have [2:36:42] assigned [2:36:42] the [2:36:43] personnel [2:36:43] to perform [2:36:43] field [2:36:44] work [2:36:44] by [2:36:45] regularly [2:36:46] collecting [2:36:48] price [2:36:48] information [2:36:49] from [2:36:49] gasoline [2:36:50] stations [2:36:50] in [2:36:51] these [2:36:52] areas [2:36:53] and [2:36:55] we [2:36:55] have [2:36:55] also [2:36:56] initiated [2:36:57] the [2:37:00] fuel [2:37:00] station [2:37:02] mapping [2:37:02] so [2:37:03] where [2:37:03] the [2:37:03] PCC [2:37:04] is [2:37:04] using [2:37:04] publicly [2:37:05] available [2:37:06] DOE [2:37:07] information [2:37:08] and data [2:37:08] to map [2:37:09] the [2:37:10] coordinates [2:37:11] of [2:37:11] fuel [2:37:12] stations [2:37:12] around [2:37:13] Metro [2:37:13] Manila [2:37:13] as [2:37:14] we [2:37:15] know [2:37:15] as [2:37:16] clustering [2:37:17] of [2:37:18] gas [2:37:18] station [2:37:19] may [2:37:20] have [2:37:20] higher [2:37:21] potential [2:37:21] for [2:37:22] collusive [2:37:23] practices [2:37:24] I think [2:37:25] I mentioned [2:37:25] that [2:37:26] when [2:37:27] they're [2:37:27] paying [2:37:28] to [2:37:28] pay [2:37:28] to [2:37:29] pay [2:37:30] to [2:37:30] pay [2:37:30] to [2:37:30] pay [2:37:32] to [2:37:32] pay [2:37:32] to [2:37:33] we [2:37:33] have [2:37:33] also [2:37:34] a [2:37:34] collection [2:37:35] of [2:37:36] supply [2:37:36] chain [2:37:37] so [2:37:37] it's [2:37:37] very [2:37:38] important [2:37:39] to [2:37:39] understand [2:37:40] the [2:37:40] supply [2:37:40] chain [2:37:40] where [2:37:42] the [2:37:42] PCC [2:37:42] also [2:37:43] continues [2:37:43] to [2:37:43] collect [2:37:44] information [2:37:45] from [2:37:45] publicly [2:37:46] available [2:37:46] sources [2:37:47] on [2:37:47] the [2:37:47] fuel [2:37:48] supply [2:37:48] chain [2:37:49] including [2:37:49] global [2:37:50] developments [2:37:50] affecting [2:37:51] it [2:37:52] so [2:37:52] this [2:37:52] is [2:37:52] also [2:37:53] where [2:37:53] the [2:37:53] PCC [2:37:53] is [2:37:54] coordinating [2:37:54] with [2:37:55] sector [2:37:55] regulators [2:37:56] to [2:37:57] augment [2:37:58] its [2:37:58] current [2:37:59] limited [2:37:59] visibility [2:38:00] on [2:38:01] these [2:38:01] supply [2:38:02] chains [2:38:02] and [2:38:02] last [2:38:03] week [2:38:03] Mr. [2:38:03] Chair [2:38:03] we [2:38:04] have [2:38:04] coordinated [2:38:05] with [2:38:05] the [2:38:05] regarding [2:38:07] this [2:38:07] collection [2:38:08] of [2:38:08] data [2:38:08] which [2:38:09] is [2:38:09] the [2:38:09] unbundling [2:38:10] of [2:38:10] prices [2:38:11] this [2:38:11] is [2:38:11] very [2:38:11] important [2:38:12] because [2:38:13] we [2:38:13] can [2:38:13] see [2:38:14] there [2:38:14] how [2:38:15] much [2:38:15] the [2:38:16] fuel [2:38:17] were [2:38:17] acquired [2:38:18] and [2:38:18] how [2:38:19] much [2:38:19] margin [2:38:20] they [2:38:20] impose [2:38:21] so [2:38:21] with [2:38:22] this [2:38:22] kind [2:38:22] of [2:38:22] information [2:38:23] Mr. [2:38:24] Chair [2:38:24] we [2:38:24] can [2:38:24] see [2:38:24] the [2:38:24] patterns [2:38:25] if [2:38:25] there [2:38:25] is [2:38:25] indeed [2:38:26] just [2:38:26] just [2:38:26] submit [2:38:27] to us [2:38:27] that [2:38:28] your [2:38:28] position [2:38:28] but [2:38:29] obviously [2:38:30] we [2:38:30] are [2:38:30] hungry [2:38:31] for [2:38:31] action [2:38:31] on the [2:38:32] part [2:38:32] of [2:38:32] PCC [2:38:32] particularly [2:38:33] on [2:38:34] this [2:38:34] very [2:38:34] basic [2:38:35] issue [2:38:35] on [2:38:36] this [2:38:36] every [2:38:36] Tuesday [2:38:37] adjustment [2:38:38] because [2:38:39] we [2:38:39] need [2:38:40] you [2:38:40] to [2:38:40] weigh [2:38:40] in [2:38:41] on [2:38:41] this [2:38:42] matter [2:38:42] because [2:38:43] we've [2:38:43] heard [2:38:43] from [2:38:44] your [2:38:44] founding [2:38:44] chairperson [2:38:45] Secretary [2:38:46] Balisakan [2:38:47] that he [2:38:47] finds [2:38:48] this [2:38:48] practice [2:38:48] in [2:38:48] fact [2:38:49] government [2:38:50] effectively [2:38:51] encouraging [2:38:53] a [2:38:53] cartel [2:38:53] like [2:38:54] behavior [2:38:54] because [2:38:54] so [2:39:01] there [2:39:03] have [2:39:03] been [2:39:03] certain [2:39:04] positions [2:39:04] that [2:39:04] says [2:39:05] that [2:39:05] it's [2:39:05] based [2:39:05] on [2:39:05] the [2:39:06] oil [2:39:06] deregulation [2:39:06] law [2:39:07] that [2:39:07] there [2:39:08] should [2:39:08] be [2:39:08] some [2:39:08] degree [2:39:09] of [2:39:09] predictability [2:39:11] but [2:39:12] I've [2:39:12] always [2:39:13] seen [2:39:13] and [2:39:14] argued [2:39:14] that [2:39:14] it [2:39:14] does [2:39:15] not [2:39:15] have [2:39:15] to [2:39:15] be [2:39:16] synchronous [2:39:17] meaning [2:39:17] it [2:39:17] does [2:39:18] not [2:39:18] have [2:39:18] to [2:39:18] be [2:39:18] done [2:39:18] all [2:39:19] at [2:39:19] the [2:39:19] same [2:39:19] time [2:39:19] the [2:39:21] objective [2:39:22] is [2:39:22] to [2:39:22] protect [2:39:22] the [2:39:23] transport [2:39:23] sector [2:39:24] so [2:39:24] that [2:39:24] and [2:39:25] the [2:39:25] consumer [2:39:25] so [2:39:26] that [2:39:26] there's [2:39:26] a [2:39:27] certain [2:39:27] degree [2:39:27] of [2:39:27] predictability [2:39:28] has [2:39:30] the [2:39:30] PCC [2:39:31] at [2:39:31] any [2:39:31] point [2:39:32] in [2:39:32] time [2:39:32] found [2:39:33] in [2:39:35] its [2:39:36] past [2:39:36] investigations [2:39:37] a [2:39:38] semblance [2:39:38] of [2:39:39] lack [2:39:39] of [2:39:40] competition [2:39:40] or [2:39:40] abuse [2:39:41] or [2:39:41] dominant [2:39:42] position [2:39:44] or [2:39:44] antitrust [2:39:46] behavior [2:39:48] in [2:39:49] previous [2:39:50] investigation [2:39:50] Mr. [2:39:51] Chair [2:39:51] we've [2:39:52] monitored [2:39:52] prices [2:39:53] in [2:39:53] certain [2:39:53] area [2:39:54] which [2:39:54] I [2:39:55] cannot [2:39:55] what [2:39:56] year [2:39:57] was [2:39:57] that [2:39:58] two [2:40:02] or [2:40:02] three [2:40:02] years [2:40:02] ago [2:40:03] provide [2:40:04] us [2:40:04] with [2:40:04] information [2:40:05] so [2:40:06] we [2:40:06] can [2:40:06] see [2:40:06] yes [2:40:07] we [2:40:07] will [2:40:08] submit [2:40:08] because [2:40:09] no [2:40:09] investigation [2:40:09] the [2:40:10] investigation [2:40:10] is [2:40:11] only [2:40:11] useful [2:40:12] if [2:40:12] there [2:40:12] is [2:40:12] a [2:40:12] result [2:40:13] if [2:40:14] it [2:40:14] does [2:40:14] not [2:40:14] result [2:40:14] into [2:40:15] an [2:40:15] indictment [2:40:15] then [2:40:16] you [2:40:16] guys [2:40:17] are [2:40:17] sleeping [2:40:17] on [2:40:17] the [2:40:17] job [2:40:18] Mr. [2:40:20] Chair [2:40:20] agreed [2:40:20] the [2:40:20] findings [2:40:21] of [2:40:21] that [2:40:21] investigation [2:40:22] it's [2:40:23] really [2:40:23] just [2:40:23] a [2:40:23] lack [2:40:24] of [2:40:25] supply [2:40:25] but [2:40:27] in [2:40:28] this [2:40:28] current [2:40:28] crisis [2:40:29] Mr. [2:40:30] Chair [2:40:30] yes [2:40:31] we [2:40:31] are [2:40:31] closely [2:40:32] monitoring [2:40:32] the [2:40:33] prices [2:40:33] Mr. [2:40:33] Chair [2:40:34] and [2:40:35] we'll [2:40:36] do [2:40:36] our [2:40:36] best [2:40:36] Mr. [2:40:37] Chair [2:40:37] I [2:40:37] have [2:40:37] one [2:40:38] last [2:40:38] question [2:40:38] but [2:40:38] I'll [2:40:39] give [2:40:39] way [2:40:39] first [2:40:39] to [2:40:39] our [2:40:40] other [2:40:40] attorney [2:40:41] Congressman [2:40:42] Armand [2:40:43] Demagila [2:40:43] you are [2:40:44] recognized [2:40:44] as our [2:40:45] last [2:40:45] interpellator [2:40:46] for this [2:40:46] morning [2:40:47] Mr. [2:40:48] Chair [2:40:48] thank you [2:40:48] just [2:40:49] few [2:40:49] questions [2:40:50] Department [2:40:52] of [2:40:52] Finance [2:40:52] please [2:40:52] walk us [2:40:55] through [2:40:55] in the case [2:40:57] of [2:40:57] value [2:40:57] added [2:40:57] tax [2:40:58] tama [2:40:58] ba [2:40:59] na [2:41:00] let's [2:41:00] say [2:41:00] yung [2:41:00] landed [2:41:01] cost [2:41:01] i-impose [2:41:04] natin [2:41:04] ng [2:41:04] excise [2:41:05] tax [2:41:05] let's [2:41:05] say [2:41:05] 10 [2:41:06] pesos [2:41:06] excise [2:41:06] tax [2:41:07] sa [2:41:07] gasoline [2:41:08] then [2:41:09] after [2:41:09] that [2:41:09] mag-iimpose [2:41:11] tayo [2:41:11] ng [2:41:11] 12% [2:41:12] value [2:41:13] added [2:41:13] tax [2:41:13] tama [2:41:13] po [2:41:13] yan [2:41:14] sa [2:41:16] pag-impose [2:41:16] po [2:41:16] nung [2:41:17] value [2:41:17] added [2:41:17] tax [2:41:18] kasama [2:41:18] po [2:41:18] yung [2:41:19] excise [2:41:19] tax [2:41:20] hindi [2:41:21] ba [2:41:21] ito [2:41:21] parang [2:41:22] tax [2:41:22] on [2:41:22] tax [2:41:23] or [2:41:23] so [2:41:23] called [2:41:24] double [2:41:24] taxation [2:41:25] hindi [2:41:27] po [2:41:27] kasi [2:41:27] under [2:41:27] the [2:41:28] tax [2:41:28] code [2:41:28] po [2:41:29] yun [2:41:29] po [2:41:29] yung [2:41:30] definition [2:41:31] po [2:41:31] nung [2:41:31] pag-compute [2:41:32] ng value [2:41:32] added [2:41:33] tax [2:41:33] on [2:41:33] importation [2:41:34] ng [2:41:35] oil [2:41:36] products [2:41:36] yes [2:41:37] totoo po yan [2:41:37] pero [2:41:37] actually [2:41:40] and [2:41:40] technically [2:41:41] nag-impose [2:41:43] tayo [2:41:43] ng excise [2:41:44] tax [2:41:44] na 10% [2:41:45] then [2:41:46] after that [2:41:47] nag-impose [2:41:48] tayo [2:41:48] ng [2:41:48] 12% [2:41:49] na VAT [2:41:49] so [2:41:50] nadamay [2:41:51] pati [2:41:51] yung [2:41:52] excise [2:41:52] tax [2:41:52] sa [2:41:52] computation [2:41:53] ng [2:41:53] VAT [2:41:53] tama [2:41:54] po [2:41:54] ba [2:41:54] correction [2:41:56] lang [2:41:56] po [2:41:56] yung [2:41:56] excise [2:41:57] tax [2:41:57] po [2:41:57] is [2:41:58] fixed [2:41:59] amount [2:41:59] per liter [2:41:59] 10 pesos [2:42:00] sa gasoline [2:42:01] aware [2:42:02] po ako [2:42:02] doon [2:42:03] now [2:42:03] ito pong [2:42:04] value [2:42:04] added [2:42:05] tax [2:42:05] not [2:42:06] 12% [2:42:06] kanina [2:42:08] sinabi [2:42:08] nyo [2:42:08] meron [2:42:09] ba [2:42:09] tayo [2:42:09] ano [2:42:09] ang [2:42:09] projected [2:42:10] revenue [2:42:11] natin [2:42:11] sa VAT [2:42:11] for [2:42:12] 2026 [2:42:13] projected [2:42:13] revenue [2:42:14] sa VAT [2:42:14] 120 [2:42:17] petroleum [2:42:20] products [2:42:21] petroleum [2:42:21] products [2:42:22] only [2:42:22] petroleum [2:42:23] products [2:42:24] lang [2:42:24] po [2:42:24] parang sabi nyo [2:42:27] 120 billion [2:42:28] kanina [2:42:28] kanina [2:42:29] po [2:42:29] around [2:42:29] 120 [2:42:30] billion [2:42:30] 120 [2:42:31] billion [2:42:31] okay [2:42:32] mesec [2:42:33] nung nagproject [2:42:37] kayo [2:42:38] ng VAT [2:42:39] collection [2:42:40] sa petroleum [2:42:40] products [2:42:41] naproject [2:42:43] nyo ba [2:42:43] na magtitriple [2:42:44] ang presyo [2:42:46] ng petroleum [2:42:46] products [2:42:47] di ba [2:42:48] hindi naman [2:42:48] what you do [2:42:49] is [2:42:49] pinuproject [2:42:50] nyo [2:42:50] ang economic [2:42:51] activity [2:42:52] so [2:42:52] tataas [2:42:53] ang volume [2:42:54] ng consumption [2:42:55] not [2:42:55] the price [2:42:56] walang [2:42:57] nakapagpredict [2:42:58] nyo to [2:42:58] sa inyo [2:42:59] definitely [2:42:59] di ba [2:42:59] okay [2:43:01] bibigyan ko [2:43:02] kayo [2:43:02] isang [2:43:02] example [2:43:03] noong [2:43:04] 60 pesos [2:43:04] ang gasoline [2:43:05] or diesel [2:43:07] magdi-diesel [2:43:08] na tayo [2:43:08] noong [2:43:09] 60 pesos [2:43:10] ang diesel [2:43:10] ang 12% [2:43:12] niya [2:43:12] is [2:43:12] 7 pesos [2:43:13] and [2:43:14] 20 centavo [2:43:15] roughly [2:43:16] yun [2:43:17] ang 12% [2:43:19] ng [2:43:19] 60 pesos [2:43:20] na diesel [2:43:21] noong [2:43:22] naging [2:43:22] 150 [2:43:23] ang [2:43:25] value [2:43:25] added [2:43:26] tax [2:43:26] niya [2:43:26] is [2:43:28] effectively [2:43:28] 18 [2:43:29] pesos [2:43:30] so [2:43:30] from [2:43:30] 720 [2:43:31] naging [2:43:32] 18 [2:43:32] pesos [2:43:33] so [2:43:33] tumaas [2:43:35] ng [2:43:35] 11 [2:43:36] almost [2:43:36] 11 [2:43:37] pesos [2:43:37] yung [2:43:38] collection [2:43:38] for this [2:43:40] month [2:43:40] tsaka [2:43:41] nung [2:43:41] isang [2:43:42] buwan [2:43:42] tumaas [2:43:43] ng [2:43:44] 12 [2:43:46] pesos [2:43:47] ang [2:43:48] 11 [2:43:48] pesos [2:43:49] 11 [2:43:49] pesos [2:43:49] ang [2:43:50] collection [2:43:50] ng [2:43:51] gobyerno [2:43:51] sa value [2:43:52] added [2:43:52] tax [2:43:52] on [2:43:53] petroleum [2:43:53] products [2:43:54] generally [2:43:55] pero [2:43:55] ang example [2:43:55] ko lang [2:43:56] po [2:43:56] is [2:43:56] diesel [2:43:56] tama [2:43:57] po [2:43:57] ba [2:43:57] tama [2:43:58] po [2:43:58] in [2:44:02] times [2:44:02] of [2:44:02] crisis [2:44:03] na [2:44:05] hindi [2:44:05] naman [2:44:05] natin [2:44:06] na [2:44:06] project [2:44:06] natataas [2:44:07] ang [2:44:09] presyo [2:44:12] at [2:44:12] tataas [2:44:13] ang [2:44:13] ating [2:44:14] collection [2:44:15] siyempre [2:44:15] tumas po [2:44:16] ang [2:44:16] collection [2:44:17] more than [2:44:17] double [2:44:17] more than [2:44:18] double [2:44:18] hindi [2:44:20] naman [2:44:22] tama [2:44:22] siguro [2:44:23] na [2:44:23] crisis [2:44:24] nga [2:44:24] tapos [2:44:25] naging [2:44:26] burden [2:44:26] pa [2:44:27] ang [2:44:27] gobyerno [2:44:28] burden [2:44:29] po [2:44:29] ito [2:44:29] sa [2:44:30] mga [2:44:30] tao [2:44:31] and [2:44:32] that [2:44:33] is [2:44:33] why [2:44:33] sa [2:44:33] next [2:44:33] session [2:44:34] natin [2:44:34] next [2:44:34] round [2:44:36] natin [2:44:37] ang [2:44:37] pinag-uusapan [2:44:38] natin [2:44:39] ayuda [2:44:39] libring [2:44:40] sakay [2:44:40] libring [2:44:41] bigas [2:44:41] aix [2:44:42] lahat [2:44:43] lahat [2:44:43] pero [2:44:45] kung [2:44:45] kaya [2:44:46] natin [2:44:46] pababain [2:44:47] ang presyo [2:44:48] ng [2:44:48] krudo [2:44:49] na [2:44:49] petroleum [2:44:49] products [2:44:50] hindi [2:44:51] naman [2:44:51] natin [2:44:51] kailangan [2:44:52] ng [2:44:52] mga [2:44:52] ayudang [2:44:53] ito [2:44:53] in fact [2:44:54] the [2:44:54] problem [2:44:54] with [2:44:55] ayuda [2:44:55] system [2:44:55] na [2:44:56] naging [2:44:56] kultura [2:44:57] na [2:44:57] natin [2:44:57] is [2:44:58] lagi [2:44:59] naman [2:44:59] kulang [2:45:00] at [2:45:01] laging [2:45:01] sala [2:45:01] samantalang [2:45:04] if [2:45:04] the [2:45:04] government [2:45:05] would [2:45:05] not [2:45:06] sacrifice [2:45:07] alisin [2:45:09] nyo [2:45:09] lamang [2:45:09] yung [2:45:09] windfall [2:45:10] collection [2:45:11] from [2:45:13] 7 pesos [2:45:14] and 20 centavos [2:45:15] naging 18 pesos [2:45:16] alisin nyo yung [2:45:17] windfall collection [2:45:18] na yon [2:45:19] malaki po [2:45:21] ang [2:45:21] mababawa [2:45:23] sa petrol [2:45:23] yung products [2:45:24] kasi sinasabi [2:45:25] nga [2:45:25] suspension [2:45:26] pa [2:45:26] ng [2:45:26] VAT [2:45:26] ako nga [2:45:27] yung windfall [2:45:28] lang [2:45:28] ang gusto [2:45:28] akong [2:45:28] alisin [2:45:29] mune [2:45:29] pero [2:45:30] dapat [2:45:32] nakita [2:45:32] ng [2:45:32] gobyerno [2:45:33] na [2:45:33] yung [2:45:34] pinoproject [2:45:34] ng [2:45:35] executive [2:45:36] branch [2:45:36] na [2:45:38] para bang [2:45:39] ang [2:45:39] department [2:45:40] of [2:45:40] finance [2:45:41] ayaw [2:45:42] na ayaw [2:45:42] nyong [2:45:42] mabawasan [2:45:43] ang [2:45:43] collection [2:45:44] naiintindihan [2:45:45] ko po yan [2:45:45] I used [2:45:45] to work [2:45:46] with [2:45:46] the [2:45:46] department [2:45:46] of [2:45:46] finance [2:45:47] ayaw [2:45:47] nyong [2:45:47] mabawasan [2:45:48] tama [2:45:48] po ba [2:45:49] in a way [2:45:51] we want [2:45:52] to manage [2:45:53] yung [2:45:54] fiscal [2:45:54] position [2:45:55] po natin [2:45:55] sa budgeting [2:45:57] kayo naman [2:45:58] ang pipwersahin [2:45:59] ng [2:46:00] kongreso [2:46:01] at ng [2:46:01] senado [2:46:01] hindi po ba [2:46:02] hindi nyo [2:46:04] ito [2:46:04] naproject [2:46:05] hindi nyo [2:46:06] ito [2:46:06] kasama [2:46:07] sa [2:46:07] projection [2:46:08] ninyo [2:46:08] so [2:46:09] huwag [2:46:10] na [2:46:10] siguro [2:46:11] siguro [2:46:16] na mali [2:46:17] ang projection [2:46:18] ng executive [2:46:18] branch [2:46:20] na [2:46:20] bakit [2:46:23] laging [2:46:23] ayuda [2:46:24] ang [2:46:24] mindset [2:46:25] samantalang [2:46:27] pwede [2:46:28] namang [2:46:28] magsakripisyo [2:46:30] ang gobyerno [2:46:31] like [2:46:31] huwag nyong [2:46:34] itaas [2:46:34] yung [2:46:35] yung [2:46:35] 12% [2:46:36] fiction [2:46:37] ang [2:46:37] tumataas [2:46:38] yung [2:46:39] presyo [2:46:39] e [2:46:39] diba [2:46:39] e [2:46:41] for [2:46:41] purposes [2:46:41] of [2:46:42] value [2:46:42] added [2:46:42] tax [2:46:43] ibalik [2:46:43] yung [2:46:43] dating [2:46:44] presyo [2:46:45] for [2:46:45] purposes [2:46:45] computation [2:46:46] e [2:46:47] hindi [2:46:48] po [2:46:48] masyadong [2:46:48] tataas [2:46:49] kasi [2:46:50] alam [2:46:50] nyo [2:46:50] actually [2:46:51] hindi [2:46:51] pinoproject [2:46:52] ganito [2:46:52] ang [2:46:53] pakiramdam [2:46:53] ng [2:46:53] mga [2:46:53] tao [2:46:53] outside [2:46:55] the [2:46:55] government [2:46:56] kasi [2:46:58] kanina [2:46:58] Mr. Chair [2:46:59] magkakampi tayo [2:47:01] dito e [2:47:02] sa gobyerno [2:47:02] kasama [2:47:04] ho natin [2:47:04] ng [2:47:05] cartel [2:47:06] like [2:47:07] petroleum [2:47:08] companies [2:47:09] pero hindi [2:47:09] daw [2:47:09] cartel [2:47:10] cartel [2:47:11] like [2:47:11] lang [2:47:12] upang [2:47:13] magandang [2:47:14] i-project [2:47:14] natin [2:47:15] sa mga [2:47:15] tao [2:47:15] or [2:47:16] wag [2:47:16] i-project [2:47:17] gawain [2:47:17] natin [2:47:17] gobyerno [2:47:18] naman [2:47:19] ang [2:47:19] magsakripisyo [2:47:20] wag [2:47:21] nyong [2:47:21] intindihin [2:47:22] yung [2:47:22] tax [2:47:22] collection [2:47:23] you know [2:47:24] why [2:47:24] pag [2:47:25] bumaba [2:47:25] ang [2:47:26] tax [2:47:26] collection [2:47:27] during [2:47:28] budget [2:47:29] deliberation [2:47:30] ito [2:47:30] lang [2:47:30] ang [2:47:30] isasagot [2:47:31] nyo [2:47:31] hindi [2:47:32] pwede itong [2:47:32] mga [2:47:32] projects [2:47:33] na gusto [2:47:33] ninyo [2:47:34] kailangan [2:47:34] magtipid [2:47:35] po ang [2:47:35] gobyerno [2:47:36] dahil [2:47:36] nagsakripisyo [2:47:37] po ang [2:47:38] gobyerno [2:47:38] para sa [2:47:39] mga [2:47:39] tao [2:47:39] and I [2:47:39] think [2:47:40] napakagandang [2:47:41] ano [2:47:42] natin [2:47:42] sa mga [2:47:42] tao [2:47:43] bababa [2:47:43] ang [2:47:44] petroleum [2:47:44] products [2:47:45] kasi [2:47:46] pag [2:47:46] tumaas [2:47:47] ang [2:47:47] petroleum [2:47:47] products [2:47:48] lahat [2:47:49] apektado [2:47:49] e [2:47:49] transportation [2:47:50] manufacturing [2:47:51] power [2:47:52] generation [2:47:53] apektado [2:47:53] lahat [2:47:54] e [2:47:54] nagbibigay [2:47:55] tayo [2:47:55] ng [2:47:55] ayuda [2:47:56] sa [2:47:57] tricycle [2:47:58] driver [2:47:58] sa [2:47:58] jeepney [2:47:59] driver [2:47:59] e [2:48:00] bumili [2:48:02] ang [2:48:04] taas [2:48:04] din [2:48:04] sa [2:48:04] groceries [2:48:04] samantalang [2:48:06] kung [2:48:06] yung [2:48:07] amount [2:48:07] na [2:48:07] ito [2:48:08] ay [2:48:08] directly [2:48:09] sa [2:48:09] petroleum [2:48:10] products [2:48:10] natin [2:48:11] aalisin [2:48:11] at [2:48:12] mararam [2:48:12] naman [2:48:12] ang [2:48:13] mga [2:48:13] tao [2:48:13] e [2:48:14] di [2:48:14] parang [2:48:14] walang [2:48:15] nangyari [2:48:15] hindi [2:48:15] nyo [2:48:15] kailangan [2:48:16] na [2:48:16] mag-ayuda [2:48:17] diba [2:48:17] siguro [2:48:18] since [2:48:19] hindi [2:48:19] nyo [2:48:19] naman [2:48:19] ma-divudge [2:48:20] kung [2:48:20] ano [2:48:20] yung [2:48:20] recommendation [2:48:21] nyo [2:48:21] sa [2:48:21] office [2:48:22] of [2:48:22] the [2:48:22] president [2:48:22] baka [2:48:23] naman [2:48:23] i-consider [2:48:24] ninyo [2:48:25] baka [2:48:26] naman [2:48:26] dapat [2:48:27] hindi [2:48:27] minsan [2:48:28] tayo [2:48:29] naman [2:48:29] ang [2:48:29] mag-sacrifice [2:48:30] your [2:48:33] suggestion [2:48:33] is [2:48:34] very [2:48:35] well [2:48:35] taken [2:48:36] pag-aralan [2:48:37] po [2:48:37] namin [2:48:38] yan [2:48:38] and [2:48:38] we [2:48:38] will [2:48:39] recommend [2:48:39] po [2:48:40] sa [2:48:41] congress [2:48:42] ang [2:48:42] makakapag [2:48:45] issue [2:48:47] ng [2:48:47] batas [2:48:47] para [2:48:48] mabawasan [2:48:48] yung [2:48:49] value [2:48:49] added [2:48:49] tax [2:48:49] kindly [2:48:51] kindly [2:48:52] are you [2:48:53] done [2:48:54] attorney [2:48:55] dimagila [2:48:56] ah [2:48:56] congressman [2:48:58] arman [2:48:58] yes [2:49:01] congressman [2:49:02] toby [2:49:02] tianco [2:49:03] from [2:49:03] our [2:49:03] independence [2:49:04] go [2:49:04] ahead [2:49:04] what [2:49:05] is [2:49:05] your [2:49:05] pleasure [2:49:05] yes [2:49:06] mrs. [2:49:06] che [2:49:06] i [2:49:06] just [2:49:07] support [2:49:07] the [2:49:07] position [2:49:07] of [2:49:08] congressman [2:49:08] dimagila [2:49:09] because [2:49:10] if you [2:49:10] recall [2:49:10] noon [2:49:11] pa lang [2:49:11] unang [2:49:11] unang [2:49:12] pamiting [2:49:12] nyo [2:49:12] po [2:49:13] yun [2:49:13] na po [2:49:14] yung [2:49:14] proposal [2:49:14] and [2:49:15] the [2:49:15] resolution [2:49:15] the [2:49:16] joint [2:49:16] resolution [2:49:17] i [2:49:17] filed [2:49:18] was [2:49:19] really [2:49:19] for [2:49:19] the [2:49:20] VAT [2:49:20] and [2:49:20] not [2:49:20] the [2:49:20] excise [2:49:21] tax [2:49:21] kaya [2:49:21] lang [2:49:21] sinuportahan [2:49:22] ko [2:49:22] na [2:49:22] rin [2:49:22] yung [2:49:23] excise [2:49:23] tax [2:49:23] kasi [2:49:24] doon [2:49:24] na [2:49:24] sa [2:49:24] computation [2:49:25] isipin [2:49:27] natin [2:49:27] doon [2:49:28] sa [2:49:29] 60 [2:49:29] pesos [2:49:30] tama [2:49:30] it's [2:49:30] 720 [2:49:31] diba [2:49:32] ngayon [2:49:33] kung [2:49:33] 150 [2:49:33] na yung [2:49:34] diesel [2:49:35] naging [2:49:35] 18 [2:49:36] pesos [2:49:36] diba [2:49:37] so [2:49:37] may [2:49:38] 10 [2:49:38] piso [2:49:38] kaagad [2:49:39] na [2:49:39] mamabawas [2:49:40] doon [2:49:40] sa price [2:49:42] ng [2:49:42] diesel [2:49:43] number [2:49:43] one [2:49:43] number [2:49:44] two [2:49:44] talagang [2:49:45] even [2:49:46] in the [2:49:46] first [2:49:46] hearing [2:49:47] I [2:49:47] already [2:49:47] emphasized [2:49:48] parang [2:49:48] hirap [2:49:49] lang [2:49:49] tanggapin [2:49:50] na [2:49:50] habang [2:49:50] nagihirap [2:49:51] yung [2:49:51] kababayan [2:49:51] natin [2:49:52] tumataas [2:49:53] yung [2:49:54] revenue [2:49:55] ng [2:49:55] gobyerno [2:49:56] and [2:49:56] number [2:49:56] three [2:49:57] talagang [2:49:57] hindi [2:49:57] lahat [2:49:57] mabibigyan [2:49:58] ng [2:49:58] ayuda [2:49:59] so [2:50:00] I know [2:50:02] susubukan [2:50:02] nyo [2:50:02] muna [2:50:03] siguro [2:50:03] sa [2:50:03] excise [2:50:03] tax [2:50:04] but [2:50:04] I [2:50:04] hope [2:50:05] you [2:50:05] do [2:50:05] consider [2:50:06] yung [2:50:06] VAT [2:50:07] because [2:50:07] the [2:50:07] reason [2:50:08] lang [2:50:08] na [2:50:08] binigay [2:50:08] sa [2:50:09] amin [2:50:09] noon [2:50:09] during [2:50:10] the [2:50:10] first [2:50:11] hearing [2:50:11] is [2:50:13] mahirap [2:50:14] i-compute [2:50:14] yung [2:50:15] VAT [2:50:15] yun [2:50:15] lang [2:50:15] yung [2:50:16] sinabi [2:50:16] noon [2:50:16] kasi [2:50:17] dun [2:50:17] sa [2:50:17] input [2:50:18] output [2:50:18] VAT [2:50:19] diba [2:50:20] yun [2:50:23] impact [2:50:24] to [2:50:24] the [2:50:25] collection [2:50:26] pero [2:50:26] yun [2:50:27] so [2:50:28] ang [2:50:29] hirap [2:50:30] lang [2:50:30] tanggapin [2:50:31] na [2:50:31] kung [2:50:33] pin-oject [2:50:33] natin [2:50:34] yung [2:50:34] VAT [2:50:35] noong [2:50:35] 60 [2:50:36] pesos [2:50:36] yung [2:50:37] pressure [2:50:39] ng [2:50:40] fuel [2:50:40] nagkaroon [2:50:42] ng [2:50:42] windfall [2:50:43] so [2:50:43] ang [2:50:43] hirap [2:50:43] lang [2:50:44] na [2:50:44] nagkaroon [2:50:44] ng [2:50:44] windfall [2:50:45] yung [2:50:45] gobyerno [2:50:46] dun [2:50:46] sa [2:50:47] panahon [2:50:47] na [2:50:47] ganito [2:50:48] so [2:50:48] I [2:50:49] hope [2:50:49] you [2:50:49] just [2:50:49] reconsider [2:50:50] kung [2:50:51] hindi [2:50:51] mag [2:50:52] normalize [2:50:52] kung [2:50:52] mag [2:50:52] normalize [2:50:53] wala [2:50:53] naman [2:50:54] problema [2:50:54] so [2:50:55] easily [2:50:55] there's [2:50:56] a [2:50:56] 10 [2:50:56] peso [2:50:57] decrease [2:50:58] agad [2:50:58] kung [2:50:59] inanggal [2:51:00] natin [2:51:00] dun lang [2:51:01] sa [2:51:01] difference [2:51:02] kasi [2:51:04] 18 [2:51:04] pesos [2:51:04] yung [2:51:05] VAT [2:51:05] so [2:51:06] pwede [2:51:07] lang [2:51:07] pag-aralan [2:51:07] kasi [2:51:08] nga [2:51:08] ang [2:51:08] binigay [2:51:08] sa [2:51:08] atin [2:51:08] Mr. [2:51:09] Chairman [2:51:09] na [2:51:09] reason [2:51:10] kaya [2:51:10] hindi [2:51:11] nila [2:51:11] ma-recommend [2:51:12] yung [2:51:12] VAT [2:51:12] is [2:51:13] yung [2:51:13] hirap [2:51:14] daw [2:51:14] i-compute [2:51:15] kasi [2:51:16] nga [2:51:16] dun [2:51:16] sa [2:51:16] input [2:51:17] output [2:51:17] VAT [2:51:18] but [2:51:18] I [2:51:18] was [2:51:18] saying [2:51:18] at [2:51:19] that [2:51:19] time [2:51:19] at [2:51:20] sinasabi [2:51:20] nyo [2:51:20] rin [2:51:27] monitor [2:51:27] I [2:51:27] think [2:51:28] kasi [2:51:29] pag-uusapan [2:51:30] na [2:51:30] naman [2:51:30] dyan [2:51:30] kailan [2:51:30] alin [2:51:31] dito [2:51:31] yung [2:51:31] dumating [2:51:32] na [2:51:32] walang [2:51:32] excise [2:51:32] tax [2:51:33] hindi [2:51:34] katulad [2:51:34] yung [2:51:34] VAT [2:51:35] pag [2:51:35] sinabing [2:51:35] today [2:51:36] walang [2:51:36] VAT [2:51:37] bawas [2:51:38] kaagad [2:51:38] sa [2:51:38] babayaran [2:51:39] ng [2:51:39] consumer [2:51:40] so [2:51:42] I [2:51:42] hope [2:51:42] you [2:51:42] just [2:51:42] reconsider [2:51:43] at [2:51:43] pag-aralan [2:51:44] kung [2:51:44] ang [2:51:44] reason [2:51:45] nyo [2:51:45] noon [2:51:45] is [2:51:46] yung [2:51:47] mahirap [2:51:48] i-compute [2:51:48] mahirap [2:51:50] lang [2:51:50] ibig [2:51:50] sabihin [2:51:51] mahirap [2:51:51] pwedeng [2:51:52] gawin [2:51:52] so [2:51:52] hirap [2:51:53] na [2:51:53] yun [2:51:53] akui [2:51:53] na [2:51:54] ng [2:51:54] gobyerno [2:51:54] para [2:51:54] hindi [2:51:55] na [2:51:55] yung [2:51:55] tao [2:51:55] ang [2:51:55] mahirap [2:51:56] computation [2:51:57] lang [2:51:57] mahirap [2:51:58] e [2:51:58] diba [2:51:59] hindi [2:51:59] katulad [2:51:59] nito [2:52:00] mahirap [2:52:00] yung [2:52:00] binabayaran [2:52:01] ng [2:52:01] tao [2:52:01] so [2:52:01] please [2:52:02] reconsider [2:52:02] that's all [2:52:04] Mr. Chairman [2:52:04] please [2:52:06] consider [2:52:07] that [2:52:07] I think [2:52:08] it's [2:52:08] very [2:52:08] significant [2:52:08] I [2:52:09] think [2:52:09] we [2:52:10] are [2:52:10] better [2:52:10] of [2:52:11] asking [2:52:11] Secrex [2:52:12] to [2:52:12] and [2:52:13] Sec [2:52:15] López [2:52:15] to be [2:52:16] the ones [2:52:16] pushing [2:52:16] for this [2:52:17] kasi [2:52:17] kayo [2:52:17] ang [2:52:17] nakakaramdam [2:52:18] sa baba [2:52:19] alam [2:52:19] nyo [2:52:19] naman [2:52:20] ng [2:52:20] DOF [2:52:20] with [2:52:21] due [2:52:21] respect [2:52:21] their [2:52:22] vanguards [2:52:23] of the [2:52:23] coffers [2:52:24] of the [2:52:24] government [2:52:25] so [2:52:26] importante [2:52:27] lang [2:52:27] naman [2:52:27] isa [2:52:27] lang [2:52:27] naman [2:52:28] ng [2:52:28] issue [2:52:28] dyan [2:52:28] we [2:52:30] strongly [2:52:31] believe [2:52:31] that [2:52:31] a [2:52:31] suspension [2:52:32] of [2:52:32] on [2:52:33] if [2:52:34] you [2:52:34] reach [2:52:35] a [2:52:35] particular [2:52:35] threshold [2:52:36] on [2:52:36] collection [2:52:36] ng [2:52:37] VAT [2:52:37] baka [2:52:38] pwede [2:52:38] na tayo [2:52:38] mag [2:52:39] suspend [2:52:39] kasi [2:52:40] may [2:52:40] windfall [2:52:40] tayo [2:52:41] diba [2:52:42] ang [2:52:42] gusto [2:52:42] lang [2:52:43] natin [2:52:43] maging [2:52:43] effect [2:52:44] is [2:52:44] if [2:52:44] we [2:52:44] suspend [2:52:45] makikinabang [2:52:46] ba talaga [2:52:46] ang taong [2:52:47] bayan [2:52:47] yan lang [2:52:48] yun [2:52:48] yan lang [2:52:49] pinakaimportante [2:52:50] kasi [2:52:50] it's easy [2:52:50] for us [2:52:51] to say [2:52:51] that [2:52:51] yes [2:52:52] but [2:52:52] in reality [2:52:53] we're [2:52:53] looking at [2:52:54] how much [2:52:54] ang bababa [2:52:55] diba [2:52:56] bababa [2:52:57] siya [2:52:57] ng [2:52:57] tatlo [2:52:57] apat [2:52:58] limang [2:52:58] porcento [2:52:59] kasi [2:52:59] hindi mo [2:52:59] na may [2:52:59] babawas [2:53:00] yung [2:53:00] buong [2:53:00] VAT [2:53:00] pangalawa [2:53:01] since [2:53:03] may [2:53:03] stranded [2:53:03] na VAT [2:53:04] dun sa [2:53:04] immediate [2:53:05] transaction [2:53:06] before [2:53:06] the [2:53:07] gas [2:53:08] pump [2:53:08] ipapass [2:53:09] on [2:53:09] ba [2:53:09] yun [2:53:10] as [2:53:10] additional [2:53:10] cost [2:53:11] ng [2:53:12] price [2:53:12] niya [2:53:12] hindi mo [2:53:13] siya [2:53:13] papayag [2:53:13] hindi niya [2:53:14] makolekta [2:53:15] yun [2:53:15] so we [2:53:16] need [2:53:16] something [2:53:16] very [2:53:17] specific [2:53:17] na talagang [2:53:18] kinompute [2:53:19] ninyo [2:53:19] at sinabi [2:53:19] ninyo [2:53:20] na [2:53:20] baliwala [2:53:21] yan [2:53:22] kahit [2:53:22] i-suspend [2:53:22] natin [2:53:23] kalalabasan [2:53:24] pa rin [2:53:24] yan [2:53:25] is [2:53:25] ipapass [2:53:25] on [2:53:26] yan [2:53:26] so [2:53:26] babalik [2:53:27] at babalik [2:53:27] sa presyo [2:53:28] yun [2:53:29] ang kailangan [2:53:29] namin [2:53:30] madinig [2:53:30] kasi [2:53:30] mahirap [2:53:31] magpapass [2:53:32] tayo [2:53:32] ng [2:53:32] suspension [2:53:33] tas [2:53:33] hindi [2:53:33] namin [2:53:34] makikita [2:53:34] we need [2:53:35] that [2:53:36] in [2:53:36] actual [2:53:36] peso [2:53:37] and [2:53:37] centavo [2:53:38] kasi [2:53:39] naghahanap [2:53:39] tayo [2:53:40] ng iba't [2:53:40] ibang [2:53:40] solusyon [2:53:41] and in [2:53:42] the [2:53:42] converse [2:53:43] kung [2:53:43] hindi [2:53:44] ninyo [2:53:44] yan [2:53:44] ayaw [2:53:45] niyong [2:53:45] implement [2:53:45] we need [2:53:46] an [2:53:47] immediate [2:53:47] implementation [2:53:48] kung paano [2:53:49] natin [2:53:49] magagamit [2:53:50] yung [2:53:50] windfall [2:53:50] nandito [2:53:51] yung [2:53:51] dalawang [2:53:51] departamento [2:53:52] handang [2:53:53] handa [2:53:53] paano [2:53:54] i-implement [2:53:54] yan [2:53:54] nag-aantay [2:53:55] na lang [2:53:55] sila [2:53:56] ng [2:53:56] pondo [2:53:57] para [2:53:57] matustusan [2:53:58] nila [2:53:58] yung [2:53:58] kanila [2:53:59] mga [2:53:59] programa [2:54:00] to be [2:54:00] able [2:54:00] to [2:54:01] assist [2:54:01] the [2:54:01] affected [2:54:07] we will [2:54:10] now [2:54:10] guys [2:54:11] it's [2:54:11] now [2:54:11] 12.49 [2:54:12] 30 seconds [2:54:16] Kong [2:54:17] RT [2:54:17] please [2:54:17] yes sir [2:54:18] kanina [2:54:19] tinutumbok [2:54:20] na kasi [2:54:20] ni Yusek [2:54:21] Salis [2:54:21] yung [2:54:21] sagot [2:54:22] nung [2:54:23] pinag-uusapan [2:54:24] natin [2:54:25] yung [2:54:26] replacement [2:54:27] cost [2:54:27] Mr. [2:54:27] Chairman [2:54:28] so [2:54:28] kung [2:54:29] nandun [2:54:29] na rin [2:54:29] tayo [2:54:30] narinig [2:54:30] ko [2:54:30] kay Yusek [2:54:31] Salis [2:54:32] yung [2:54:32] sinasabi [2:54:32] niyang [2:54:32] bridge [2:54:33] finance [2:54:33] baka [2:54:34] pwede [2:54:34] naman [2:54:35] isama [2:54:35] na [2:54:35] ng [2:54:36] Dep [2:54:36] Dep [2:54:36] sa [2:54:36] solutions [2:54:37] yun [2:54:37] last [2:54:38] week [2:54:38] po [2:54:39] Mr. [2:54:39] Chairman [2:54:40] yung [2:54:40] classmate [2:54:40] po [2:54:40] ni [2:54:41] Ma'am [2:54:41] Stella [2:54:41] yung [2:54:42] deputy [2:54:42] governor [2:54:43] ng [2:54:43] central [2:54:43] banks [2:54:44] sinasabi [2:54:44] niya [2:54:44] the [2:54:45] liquidity [2:54:46] position [2:54:46] of [2:54:46] all [2:54:47] our [2:54:47] banks [2:54:47] very [2:54:48] strong [2:54:49] so [2:54:49] kung [2:54:50] very [2:54:50] strong [2:54:50] meron [2:54:51] naman [2:54:51] suggestion [2:54:52] why [2:54:52] not [2:54:53] come up [2:54:53] with [2:54:53] the [2:54:53] bridge [2:54:54] finance [2:54:54] to [2:54:55] finance [2:54:55] all [2:54:55] our [2:54:56] oil [2:54:56] companies [2:54:56] and [2:54:57] stretch [2:54:57] it [2:54:57] give [2:54:58] them [2:54:58] a [2:54:59] 10 [2:54:59] year [2:54:59] instrument [2:55:00] there [2:55:00] so [2:55:01] they [2:55:01] can [2:55:01] buy [2:55:02] to [2:55:03] replace [2:55:03] the [2:55:03] gasoline [2:55:04] but [2:55:04] it [2:55:05] is [2:55:05] not [2:55:08] banks [2:55:08] are [2:55:08] strong [2:55:09] enough [2:55:09] to [2:55:10] support [2:55:11] that [2:55:11] kind [2:55:12] of [2:55:12] an [2:55:12] instrument [2:55:12] at [2:55:12] sinasabi [2:55:13] na [2:55:13] rin [2:55:13] naman [2:55:13] ni [2:55:14] Jose [2:55:14] Salis [2:55:14] kanina [2:55:15] that [2:55:15] the [2:55:15] bridge [2:55:15] finance [2:55:16] may [2:55:16] be [2:55:16] needed [2:55:16] baka [2:55:17] naman [2:55:17] po [2:55:17] it [2:55:18] could [2:55:18] be [2:55:19] led [2:55:19] a [2:55:20] syndicated [2:55:20] effort [2:55:21] can [2:55:21] be [2:55:21] led [2:55:21] by [2:55:22] the [2:55:22] DBP [2:55:23] and [2:55:23] the [2:55:24] land [2:55:24] bank [2:55:24] to [2:55:25] come [2:55:25] up [2:55:25] with [2:55:26] the [2:55:26] syndicated [2:55:27] vote [2:55:27] for [2:55:28] the [2:55:28] information [2:55:29] of [2:55:29] Kong [2:55:29] Yap [2:55:30] we [2:55:30] have [2:55:30] also [2:55:30] we [2:55:31] are [2:55:31] inviting [2:55:31] the [2:55:32] Bankers [2:55:33] Association [2:55:34] of [2:55:38] out [2:55:39] a [2:55:39] potential [2:55:39] package [2:55:40] that [2:55:41] will [2:55:41] can [2:55:42] possibly [2:55:42] lend [2:55:43] to [2:55:43] our [2:55:43] oil [2:55:43] companies [2:55:44] yes [2:55:44] thank [2:55:45] you [2:55:45] congressman [2:55:46] paulo [2:55:47] this [2:55:47] is [2:55:47] your [2:55:47] second [2:55:47] time [2:55:48] in [2:55:48] the [2:55:48] session [2:55:49] another [2:55:49] 30 [2:55:50] seconds [2:55:50] go [2:55:50] ahead [2:55:50] thank [2:55:51] you [2:55:51] Mr. [2:55:52] Chair [2:55:52] I [2:55:52] agree [2:55:53] with [2:55:53] the [2:55:53] position [2:55:54] of [2:55:54] congressman [2:55:55] Dimagila [2:55:56] that [2:55:56] we [2:55:57] should [2:55:57] put [2:55:57] a [2:55:57] cap [2:55:58] on [2:55:58] the [2:55:59] fuel [2:55:59] but [2:56:00] that [2:56:00] is [2:56:01] precisely [2:56:01] the [2:56:01] essence [2:56:02] of [2:56:02] our [2:56:03] bill [2:56:03] that [2:56:03] we [2:56:03] filed [2:56:04] last [2:56:05] week [2:56:06] along [2:56:06] with [2:56:06] congressman [2:56:07] Makasayet [2:56:07] putting [2:56:08] a cap [2:56:09] on [2:56:09] the [2:56:09] bill [2:56:09] Sana [2:56:10] magka [2:56:11] special [2:56:12] session [2:56:13] na tayo [2:56:13] para [2:56:14] ma-take [2:56:15] up [2:56:15] natin [2:56:16] itong [2:56:16] mahalagang [2:56:17] legislative [2:56:17] measures [2:56:18] na ito [2:56:18] At [2:56:19] isa [2:56:19] pa [2:56:19] Mr. [2:56:21] Chair [2:56:21] habang [2:56:22] pinapanood [2:56:23] ko [2:56:23] ang [2:56:24] DOE [2:56:25] USEC [2:56:25] kanina [2:56:26] para [2:56:28] meron [2:56:29] uncertainty [2:56:30] pa rin [2:56:30] kahit [2:56:31] na magkakaroon [2:56:31] ng rollback [2:56:32] sa presyo [2:56:34] ng [2:56:34] petrolyo [2:56:36] dahil [2:56:37] ito [2:56:37] nga [2:56:37] ang [2:56:37] binabanggit [2:56:38] niya [2:56:38] palagi [2:56:38] yung [2:56:39] uncertainty [2:56:39] sa [2:56:40] Middle [2:56:40] East [2:56:40] sa [2:56:41] Strait [2:56:41] of [2:56:41] Hormuz [2:56:42] I [2:56:43] think [2:56:44] we [2:56:44] should [2:56:44] develop [2:56:45] a [2:56:46] strategic [2:56:47] pragmatism [2:56:48] as a [2:56:49] nation [2:56:50] na hindi [2:56:51] lang [2:56:51] po tayo [2:56:51] magre-rely [2:56:52] on [2:56:52] a [2:56:55] sole [2:56:55] supplier [2:56:55] kung [2:56:56] matatandaan [2:56:57] nyo [2:56:57] nung [2:56:58] nakaraan [2:56:58] nakapag-donate [2:56:59] po [2:56:59] nakapag-donate [2:57:00] nakapag-ship [2:57:01] ng [2:57:01] 700,000 [2:57:02] barrels [2:57:03] ng [2:57:03] crude oil [2:57:03] ang [2:57:04] Russia [2:57:04] nakapag-bigay [2:57:06] din [2:57:06] ng [2:57:07] 140,000 [2:57:09] barrels [2:57:10] of diesel [2:57:11] ang [2:57:11] Japan [2:57:12] ibig [2:57:12] sabihin [2:57:12] there are [2:57:13] alternative [2:57:14] non-traditional [2:57:17] sources [2:57:18] of oil [2:57:18] para po [2:57:19] hindi tayo [2:57:20] dependent [2:57:20] sa isang [2:57:20] source [2:57:21] lamang [2:57:21] and [2:57:22] lastly [2:57:22] Mr. [2:57:24] Chair [2:57:24] yung pong [2:57:24] sinasabi ni [2:57:25] Congresswoman [2:57:26] Iris Montez [2:57:27] on [2:57:27] oil [2:57:28] stockpiling [2:57:30] we will [2:57:31] file a [2:57:32] similar [2:57:32] bill on [2:57:33] that [2:57:33] strategic [2:57:34] oil [2:57:34] stockpiling [2:57:35] para po [2:57:36] mayroon tayong [2:57:37] reserva [2:57:38] sa [2:57:38] langis [2:57:39] salamat po [2:57:39] there are [2:57:40] nine [2:57:40] pending [2:57:41] bills [2:57:41] already [2:57:42] on that [2:57:42] matter [2:57:42] so [2:57:43] it's [2:57:43] very [2:57:43] important [2:57:44] anyway [2:57:44] maraming [2:57:45] maraming [2:57:45] salamat [2:57:46] sa ating [2:57:46] mga [2:57:46] members [2:57:47] sa ibang [2:57:47] resource [2:57:48] persons [2:57:48] natin [2:57:48] we love [2:57:49] to [2:57:49] take [2:57:49] a [2:57:49] break [2:57:49] like [2:57:50] to [2:57:50] apologize [2:57:51] to [2:57:51] secretary [2:57:52] sulidum [2:57:52] from [2:57:52] the [2:57:52] DOST [2:57:53] i [2:57:54] know [2:57:54] he [2:57:54] has [2:57:54] a [2:57:54] presentation [2:57:55] on [2:57:55] alternative [2:57:56] energy [2:57:56] sources [2:57:57] that [2:57:58] the [2:57:58] DOST [2:57:58] is [2:57:59] developing [2:57:59] but [2:57:59] i [2:58:00] hope [2:58:01] you [2:58:01] indulge [2:58:03] us [2:58:03] at the [2:58:04] moment [2:58:04] we'll [2:58:04] have [2:58:04] to [2:58:04] take [2:58:05] a [2:58:05] break [2:58:05] for [2:58:06] lunch [2:58:06] and [2:58:06] we [2:58:06] will [2:58:07] resume [2:58:07] it's [2:58:08] 12 [2:58:08] 53 [2:58:08] we [2:58:09] will [2:58:09] resume [2:58:10] at [2:58:10] 1 [2:58:11] 30 [2:58:11] so [2:58:13] everybody [2:58:14] here [2:58:14] is [2:58:15] covered [2:58:15] you [2:58:15] can [2:58:15] all [2:58:16] have [2:58:16] lunch [2:58:16] here [2:58:16] the [2:58:17] South [2:58:17] Lounge [2:58:17] the [2:58:32] secretaries [2:58:33] can [2:58:33] go to [2:58:34] the [2:58:34] South [2:58:34] Lounge [2:58:35] while [2:58:35] the [2:58:36] ones [2:58:38] who [2:58:38] are [2:58:39] aspiring [2:58:40] to [2:58:40] replace [2:58:40] the [2:58:40] secretaries [2:58:41] can [2:58:41] be [2:58:41] in [2:58:41] the [2:58:42] North [2:58:42] Lounge [2:58:42] I [2:58:43] take [2:58:44] that [2:58:44] back [2:58:44] I'm [2:58:44] just [2:58:44] joking [2:58:45] I'm [2:58:45] just [2:58:45] joking [2:58:45] so [2:58:46] food [2:58:47] is [2:58:47] also [2:58:47] prepared [2:58:48] here [2:58:48] at [2:58:48] the [2:58:48] North [2:58:48] Lounge [2:58:49] here [2:58:49] with [2:58:49] maraming [2:58:51] salamat