Palace: Discussions to scrap oil deregulation law ongoing

MANILA, Philippines - The Energy Department has started discussions with government economic managers on whether to scrap the Oil Deregulation Law, a Malacañang official said Sunday. Press Secretary Cerge Remonde also said all stakeholders in the issue would eventually be consulted before the government arrives at a final decision. "Sa ngayon sa discussion stage pa ‘yan ng DOE and our economic managers would handle this matter [As of now, the matter of whether to scrap oil deregulation is still at the discussion stage between the Energy Department and our economic managers]," he said on government-run dzRB radio. Remonde on Saturday hinted at scrapping oil deregulation following the latest round of fuel price hikes. On the other hand, Remonde said the government is now finding ways to give the Energy Department more teeth to make the oil industry more responsive in terms of supply and pricing. "That's why kailangan i-review natin ang policy at regime, tingnan natin ano ang mas mabuti [we have to review our policy and regime to see which is better]. In the process all the stakeholders will be consulted," he said. - GMANews.TV