The Philippine Government Plans to Largely Raise Bioethanol Import Duties

News from the Department of Finance of the Philippines says that the Philippine Government is planning to carry out an administrative decree, raising the bioethanol import duties from current 10% to 20% for restricting imports and encouraging local production.

The news indicates that Philippine tariff commission has offered a proposal for the raise, which will be submitted for discussion in Congress reconvening after Christmas. Before that, some official from the Philippine Department of Industry & Trade said they would support the motion of largely raising bioethanol import duties to encourage local investments and develop domestic energy supply.