Aquino Halves Fuel Price Hike
President Corazon Aquino bowed to public pressure today and partially reversed a fuel price increase, but leftist union leaders said a general strike threatened for Wednesday would go on.
In a live television broadcast, Aquino said she has cut import taxes on fuel oil to 15% from 20%, which will effectively halve the increase announced Aug. 14. But union leader Crispin Beltran said on the radio that the partial reduction is not enough. “We will go on with the strike,” he declared. Beltran is president of the May 1 Movement, the country’s biggest leftist union, which has vowed to bring 2 million people onto the streets Wednesday.
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