While we all know that such a situation exists in our crude import dependent country, this article confirms and emphasize smuggling in the philippines and its impact fiscally. However, with no official data to back up analysis, we can only work on estimates.
Oil smuggling has been a problem not just for legitimate oil players but for motorists as well. We maybe putting off-specs product in our cars just to save some penny. And now, the article emphasizes the forgone revenue we the government could have enjoyed, giving us enough resources to combat the current crisis and stand on our own. This maybe an interim solution for BSP’s call to be less dependent on our export sector.
I just hope that we all accept the truth and take action to fight smuggling in our country.
