President Ferdinand Marcos Jr. said suspending the VAT and repealing the oil deregulation law remain possible, but immediate measures take priority.
He acknowledged that amending the oil deregulation law is a long process, and the focus is on actions that can be done quickly.
Senate President Tito Sotto has filed a bill to repeal the law, citing the government’s lack of control over volatile fuel prices amid external shocks.
Marcos has signed a law granting him emergency powers to lift the fuel excise tax temporarily, though he has not yet indicated when he will use them.
The country remains under a national energy emergency as economists warn of potential high inflation, rising unemployment, and worsening poverty amid the Middle East crisis.
Source: PhilNews24 | March 28, 2026
MARCOS SAYS VAT REMOVAL AND OIL DEREGULATION REPEAL STILL POSSIBLE
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