PH to Lose Domestic Vehicle Manufacturing Industry: DTI

The Department of Trade and Industry recently revealed that if the government will not further impose tax on imported cars, the domestic vehicle manufacturing industry will crumble.

DTI Secretary Ramon Lopez said that regardless of any situation, including the pandemic, the government should still consider imposing tax on imported cars to protect local jobs. Lopez also added that they are only “saving jobs” especially in these trying times.

The Safeguard Measures Act, a law that was passed in the year 2000, can be used by DTI.

DTI however, is moving to place a P70,000 provisional safeguard duties on an imported passenger car and P110,000 for a light commercial vehicle.

The moment that the Bureau of Customs releases an order, the temporary duties will last up to 200 days.

“From close to 100,000, there are now estimated 86,000 jobs in local vehicle manufacturing, including the makers of auto parts, metal works, plastic, wiring harness, etc,” said Lopez.

Lopez further reiterated that the pandemic really contributes great to the problem. (MLC)