Rate, contribution hikes expected in 2024

Higher bills, prices, and rates of contributions await Filipinos as the new year ushers in, according to a "24 Oras" report.

Quoting the monitoring by GMA Integrated News Research, the report said the following may implement rate increases in 2024:

- Manila Water Company Inc. and Maynilad Water Services Inc.
In December 2023, the Metropolitan Waterworks and Sewerage System (MWSS) said it approved rate hikes of Manila Water and Maynilad effective 2024.
MWSS Regulatory Office chief regulator Patrick Lester Ty said the adjustments that will be implemented — an average ranging from P6.41 to P7.87 per cubic meter (/cu.m.) — starting January 2024 take into consideration inflation, as well as the spending program undertaken by the water concessionaires.

-Liquefied Petroleum Gas (LPG)

Households will have to pay more for LPG this year, as firms announced an upward adjustment to reflect the movement in international contract prices.
In an advisory, Petron Corp. said it will increase LPG prices by P3.40 per kilogram, effective 12:00 p.m. on Monday, Jan. 1, 2024.

-MRT3
The Metro Rail Transit Line 3 (MRT3) is set to raise its fares starting in 2024, with the government saying the move is necessary to finance the expenses required for the rail line’s operations.
Once implemented, the minimum fare of the MRT3 would be increased from the current P13 to P16, while an end-to-end trip from North Avenue to Taft Avenue station would go up from P28 to P34.

-PhilHealth
The scheduled increase is based on the Universal Health Care Law, which mandated hikes in the PhilHealth contribution rate until it reached 5% by 2024.

-Pag-IBIG
The Home Development Mutual Fund or Pag-IBIG Fund is all set to implement the deferred increase in members’ contributions starting January 2024.
The expected premium hike this year will result in a maximum contribution of P200 for the member and another P200 for the employer.

-Expected increase in prices of some items following a petition from manufacturers before the Department of Trade and Industry.

Economist Emmanuel Leyco said the looming hikes will further burden the ordinary Filipinos.

"Inflationary ang mga pagtaas ng presyo. Halimbawa, pagtaas ng contribution ng PhilHealth, karaniwan na tatamaan nyan, na talagang makakaramdan, ay yung pangkaraniwang empleyado," he said.

"Ang inflation ng mayaman ay iba sa inflation ng mahirap. Kung mayaman ka hugot ka sa kabilang bulsa pero kug ikaw ay pangkaraniwang mamayan ramdam ng sikmura ang pagtaas ng presyo ng bilihin," Leyco added. —LDF, GMA Integrated News