BOC CLEARS UNIOIL
October 2, 2008
One of the country's leading independent oil players commended the Bureau of Customs (BOC) for expediting the release of petroleum products the agency has earlier placed on hold pending verification of documents.
Unioil Petroleum Philippines Incorporated (UPPI) General Manager Chito Medina-Cue Jr. said that the release of the shipments were made possible after the BOC found there was nothing wrong with the importations.
"After a thorough verification made by the Bureau of Customs, Unioil's shipments were released because all our import papers are in order." He also added that the company had paid all the necessary taxes covering the importations.
"We thank the BOC under Commissioner Napoleon Morales for its immediate and prompt action," Medina-Cue said.
He also said that with the release of the shipments, Unioil could make good on its promise to "continuously sell its products to the public at significantly lower prices." "We are very grateful to Commissioner Morales for considering the welfare of the public,"
But in a related development, Medina-Cue said that the government's decision to re-impose a 1% tariff on oil imports might lead to an end to price rollbacks of oil companies, Unioil included.
"The one percent tariff re-imposition for our crude products and finished products will be definitely an additional cost that will translate to about 30-40 centavos per liter and this will be an additional burden to the consumers," Medina-Cue said.
He added though that Unioil will always base its pricing decision not only on the pricing mechanism in the global market but also on what is good for the consuming public.
by: Leah Flor
October 2, 2008
One of the country's leading independent oil players commended the Bureau of Customs (BOC) for expediting the release of petroleum products the agency has earlier placed on hold pending verification of documents.
Unioil Petroleum Philippines Incorporated (UPPI) General Manager Chito Medina-Cue Jr. said that the release of the shipments were made possible after the BOC found there was nothing wrong with the importations.
"After a thorough verification made by the Bureau of Customs, Unioil's shipments were released because all our import papers are in order." He also added that the company had paid all the necessary taxes covering the importations.
"We thank the BOC under Commissioner Napoleon Morales for its immediate and prompt action," Medina-Cue said.
He also said that with the release of the shipments, Unioil could make good on its promise to "continuously sell its products to the public at significantly lower prices." "We are very grateful to Commissioner Morales for considering the welfare of the public,"
But in a related development, Medina-Cue said that the government's decision to re-impose a 1% tariff on oil imports might lead to an end to price rollbacks of oil companies, Unioil included.
"The one percent tariff re-imposition for our crude products and finished products will be definitely an additional cost that will translate to about 30-40 centavos per liter and this will be an additional burden to the consumers," Medina-Cue said.
He added though that Unioil will always base its pricing decision not only on the pricing mechanism in the global market but also on what is good for the consuming public.
by: Leah Flor
No comments:
Post a Comment