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Saturday, October 30, 2004
'Sin tax' a move closer to stabilizing economy: Arroyo
PRESIDENT Arroyo Friday said the approval by the House of Representatives of the bill on the indexation of alcohol and cigarette taxes moves the country closer to stabilizing the economy.
Arroyo said she is confident that the Senate would also pass the bill with the same speed, considering that her administration is pushing for multi-partisan unity with opposition leaders in the Senate.
She said the emerging covenant for national unity is supported by leaders in both houses of Congress who share a common solution and direction in meeting the economic crisis.
"Our revenue agenda to move resources to generate jobs, improve education, push health programs and broaden social reforms will continue to be propelled by multi-partisan unity and a shared determination among our nation's leaders to shed off personal and party interest and to serve the supreme welfare of the people," she said.
She also said the system must be purged of corruption in order to eliminate government waste, increase tax collection, and "invest in our nation through revenue increases dedicated to job creation and health care.
She said the interest payments in October are lower than the projected amount, although she did not give any figures as she acknowledged the role of Congress in passing the needed measures.
This developed as President Arroyo ordered the creation of a public-private sector task force for development of globally competitive Philippine service industries.
Arroyo, through Executive Order (EO) 372, said the public and private sectors must be harnessed to formulate integrated master plans for the development of potential globally competitive service industries that generate employment and earn foreign exchange.
The task force shall be composed of the trade and foreign affairs secretaries, chairmen of the Clark Development Corp. (CDC) and Subic Bay Metropolitan Authority (SBMA) and five representatives from the private sector who shall be appointed by the President.
The trade secretary and a private sector representative will be co-chairs of the task force. The body will coordinate its plans with the senior adviser on international competitiveness.
The operational requirements of the public sector segment of the task force would be drawn from the President's Contingent Fund while private sector entities would fund their own activities through grants and contributions.
The task force may accept donations, grants, and gifts in cash or kind in order to implement its functions but they have to be accounted in its books.
Receipts from cash donations and proceeds from the sale of donated commodities shall be remitted to the national treasury as recorded as a special account in the General Fund. (JMR)
(October 30, 2004 issue)
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