MANILA, Philippines-Malacanang Palace on  Wednesday has expressed reservation on a bill filed by Makabayan bloc seeking exemption on water, electricity and oil from Value Added Tax.

Secretary Herminio B. Coloma Jr. of the Presidential Communications Operations Office has said  “this involves amendments of existing laws and requires comprehensive study of far reaching implications on revenue collections and budget deficit.”

Makabayan bloc  on their House Bill 343, 344, and 345 or The Acts to Exempt Water Services, Electricity, and Petroleum Products has reportedly said the VAT  on said basic commodities has greatly affected the “purchasing” power of the public particularly the low-salaried consumers in the country.