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NEWS UPDATES 13 November 2009

Philippines to keep oil price cap until after Apec meet   

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Philippine President Arroyo will act on the recommendation to lift the oil-price freeze after she attends the Asia-Pacific Economic Cooperation (Apec) Leaders’ Summit this weekend, Malacañang – the Presidentail Palacce – was quoted by the Business Mirror as saying Thursday.

In an interview before a dinner reception for US Secretary of State Hillary Clinton at Malacañang Park, Press Secretary Cerge Remonde was quoted as saying: “After the Apec. We will not allow anyone to pressure us.” Remonde did not elaborate.

Earlier, Malacañang clarified reports in TV and radio newscasts that President Arroyo has lifted oil-price caps in Luzon under Executive Order (EO) 839.

“Malacañang has not yet lifted EO 839. PGMA is still studying the recommendations,” Remonde said in a statement, in response to reports circulating to the contrary.

Executive Secretary Eduardo Ermita said in a radio interview the National Disaster Coordinating Council (NDCC) is making a “continuing assessment” of the state of calamity in Luzon, and would advise the Chief Executive accordingly.

Ermita said the government is still reviewing the proposed partial lifting of EO 839, which would limit the coverage of the oil-price freeze in Baguio, Central Luzon, Zambales, Southern Luzon, Quezon and some areas in Laguna.



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