Aquino wants review of oil deregulation law

PRESIDENT Benigno Aquino 3rd has called for a review of the Oil deregulation Law to make room for a more competitive market in the local petroleum industry.

This move was President Aquino’s response to one of three concerns raised by leaders of the country’s major transport groups during a meeting in Malacanang on Wednesday.

During a press briefing, Malacañang deputy spokesman Abigail Valte said that there were suggestions from the transport sector for the government to improve or revisit the Oil Deregulation Law.

Also during the meeting with the transport leaders, the President, according to Valte, committed to cracking down on specific local agencies that allegedly abuse their powers and extort money from drivers of public utility vehicles.

Those in these agencies found to engage in extortion, the deputy spokesman said, would be removed from the service if evidence warranted.

Valte added that Mr. Aquino has told Department of Interior and Local Government Secretary Jesse Robredo to gather information about the allegedly abusive agencies and report to him his findings.

Department of Energy Undersecretary Jay Layug described the meeting between Mr. Aquino and the transport leaders as constructive.

“So we are expecting that, hopefully, they will not go on strike,” Layug said of the supporters of the transport leaders.

Meanwhile, he announced that they would continue to reload cards under the Pantawid Pasada program as some P230 million remains out of the P300 million budget allocated for the fuel subsidy program.

Cabinet officials present during the meeting were Department of Transportation and Communications Secretary Manuel Roxas 2nd, Trade and Industry Secretary Gregory Domingo, Manila Metropolitan Development Authority Chairman Francis Tolentino, Land Transportation Franchise Regulatory Board Chairman James Jacob and representatives from the Energy department. –Maria Nikka U. Garriga, Manila Times