BACOLOD CITY, Philippines — Business tycoon Eduardo “Danding” Cojuangco Jr. is endorsing the passage of sin tax bill.
“I endorse it. We have no problem with that,” Cojuangco said, when asked of his reaction on the bill during a press conference in this city over the weekend.
“Magbabayad kami. In fact, we have always paid more than what we should,” said Cojuangco, chairman of San Miguel Corporation, the largest food and beverage corporation in the Philippines and Southeast Asia.
Malacañang has called on Congress again to pass the sin tax bill, which is expected to discourage the consumption of tobacco and alcohol products, especially among the young and the poor. — (FREEMAN)