The Trade Union Congress of the Philippines (TUCP) today expressing alarm over skyrocketing prices of petroleum products called on government to institute measures to protect workers from the ill-effects of the surging oil prices.
The statement came after oil prices breached through US$70 per barrel levels yesterday.
The TUCP also called on employers to refrain from passing the burden of adjustments to workers and their families.
TUCP warned that employers may resort to lay-offs to offset high costs of production particularly on power and energy costs.
TUCP earlier called for a national conference among employers, labor, and government to discuss possible means to mitigate the impact of skyrocketing prices of petroleum products.
TUCP also proposed the passage of a law that will exempt minimum wage earners from paying withholding taxes. According to TUCP the savings from the exemptions will substantially assist workers improve their purchasing capacity. Ten percent of monthly incomes of workers are automatically deducted from their paychecks and go to withholding taxes.
“The government must afford protection particularly for the most vulnerable sectors, those earning the minimum, and those who can barely make out a living”, TUCP said.
Among the measures proposed by the TUCP is the exemption of the power industry from the coverage of the expanded value-added-tax. “Even only for this period electricity should be exempted from the VAT to give space to industries and households from increased costs”, TUCP said.
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