NextGen Day

MANILA, Philippines — The Department of Energy (DOE) is requesting that an executive order (EO) be issued to suspend import duties on coal imported from nations outside of the Asean-India Free Trade Agreement (AIFTA).

DOE Secretary Alfonso Cusi made the announcement in the wake of increasing global oil prices, which could have an impact on power pricing in the coming months.

“On coal importation from non-AIFTA countries, there is a 7% tariff — the tariff on coal imports from non-AIFTA countries is 7%.” It has been put on hold. “We’re asking the President to issue an EO to halt it,” Cusi said at a press briefing on Tuesday.

He stated that the country intends to diversify its sources of imported coal, particularly from non-AIFTA countries, in order to increase market competition and lower coal prices.

According to the DOE chief, Indonesia supplies 90 percent of the country’s imported coal.

According to power companies, global coal prices have already doubled from USD200 per ton to over USD400 per ton, according to Cusi.

In the meanwhile, Cusi added that instead of suspending the excise tax on oil imports, the government plans to double gasoline subsidies for public utility vehicle (PUV) drivers, farmers, and fisherfolk.

The government plans to increase gasoline subsidies for PUV drivers to PHP5 billion and agriculture and fisheries subsidies to PHP1.1 billion, respectively, from PHP2.5 billion and PHP500 million.

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