May 5, 2020
LKI 2020-022 Press Statement on Executive Order 113.
( as amended)
Under the Executive Order all consumers share in the nobility and dignity of the Covid 19 Healing as well as adding funds in the stimulus of the economy.
The consumers appreciate that the Presidents weekly report under the Bayanihan to Heal as One Law should state the total tariif collection under this Executive Order.
Pope Francis reminded that we should guard against the profiteers and usurers, which the Pope calls as a social pandemic .
On the profiteers, We should guard against companies who may not be affected by the tariff but who will take advantage and price their products at par with those affected by tariff increase. Oil companies will likely pass on the burden to consumers and those not affected will follow suit and earn windfall profits.