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File photo MANILA - A ranking Bangko Sentral ng Pilipinas (BSP) executive said Thursday while wage and fare hike proposals have been made due to fuel price increases, the government is not remiss in alleviating the public's welfare. "What is important, we think, is that the government is pursuing firm measures to temper the impact, the negative impact of the increase in oil prices," BSP Department of Economic Research managing director Zeno Ronald Abenoja said in a virtual briefing aired over the central bank's Facebook page. Various transport groups have filed for fare hike petitions while the Trade Union Congress of the Philippines (TUCP) have petitioned for a PHP470 increase in minimum wage rate in the National Capital Region (NCR) amid oil price increases in the international market, which have impacted domestic fuel prices. However, officials of various departments have discounted the need for these hikes and instead recommended, among others, the implementation ....

Zeno Ronald Abenoja , Bangko Sentral , Department Of Economic Research , Union Congress , National Capital Region , Economic Research , Trade Union Congress , Monetary Board , File Photo Manilaa Ranking Bangko Sentral Ng Pilipinas Bsp Executive Said Thursday While Wage And Fare Hike Proposals Have Been Made Due To Fuel Price Increases , He Government Is Not Remiss In Alleviating The Public 39s Welfare Quot What Important , We Think , S That The Government Is Pursuing Firm Measures To Temper Impact , He Negative Impact Of The Increase In Oil Prices , Uot Bsp Department Of Economic Research Managing Director Zeno Ronald Abenoja Said Ina Virtual Briefing Aired Over The Central Bank 39s Facebook Page Various Transport Groups Have Filed For Fare Hike Petitions While Trade Union Congress Philippines Tucp Petitioned Fora Php470 Increase In Minimum Wage Rate National Capital Region Ncr Amid Oil Price Increases International Market , Hich Have Impacted Domestic Fuel Prices However , Fficials Of Various Departments Have Discounted The Need For These Hikes And Instead Recommended , Mong Others , He Implementation Ofa Four Day Workweek Abenoja Said The Wage And Minimum Fare Hike Proposals Are Expected Given Rising Fuel Prices Their Impact On Commodity , Mong Others Quot However , Here Is No Fare Hike Adjustment That Has Been Granted And There Are Discussions On Whether 39s Room For Wage At This Time , Uot He Said Abenoja The Government Is Considering Further Opening Up Economy To Allow More Economic Activities Which Will Provide People Opportunities And Help Lessen Impact Of Jumps In Oil Commodity Prices Added Targeted Subsidy Program For Drivers Operators Public Utility Vehicles , S Well As Farmers And Fisherfolk , S Alsoa Way To Quot Alleviate Pressures On Petitions For Fare Hike Adjustments Abenoja Said There Are Also Various Measures Help Temper Any Price Increases In Food Prices , Uch As Agricultural Products Quot So All Of These Measures , Re Very Important In Trying To Address Possible Second Round Effects , Uot He Said ,