By Dominique Gabriel G. Bañaga

Negros Occidental 5th district Congressman Emilio Dino Yulo III warned yesterday morning that the sugar liberalization being proposed by Finance Secretary Benjamin Diokno will kill the local sugar industry.

Diokno made the proposal that would allow manufacturers of sweetened beverages to directly import sugar as a “reasonable compromise” following plans to raise taxes on sugary drinks.

Under the Tax Reform for Acceleration and Inclusion Law, a P12 excise tax will be imposed on sweetened drinks.

Yulo said liberalizing sugar will largely affect small sugar producers.

“The sugar industry right now is 90 percent, composed are all marginalized,” Yulo explained.

He warned that local sugarcane farmers in Negros Occidental will negatively be affected the most by Diokno’s proposal.

“The sugar industry is the lifeblood of the province, liberalization will not favor any particular sector,” Yulo said.

Earlier, United Sugar Producers Federation president Manuel Lamata urged President Ferdinand Marcos, Jr. to ignore the proposal which Diokno wants to further enrich industrial users, knowing that this move will kill the more than five million Filipinos who are dependent on the sugar industry.

“The Finance Secretary is ill-advised,” Lamata said.

“Diokno should also think of the consumers or the general public who will also be affected, as these industrial users will surely pass on the additional taxes to their consumers,” he added./DGB, WDJ