BusinessAugust 9, 2026

abolition

ab-uh-LISH-uhn

Definition

The formal act of putting an end to a system, practice, or institution.

Etymology

Derived from the Latin word 'abolitio,' meaning 'an annulling' or 'wiping out,' which comes from the verb 'abolere,' meaning to destroy or suppress.

In the news

The article mentions the abolition of the 'system loss charge' as a specific proposed amendment to the Electric Power Industry Reform Act. This reflects a legislative goal to eliminate a particular financial burden on consumers.

Congress asked to put tax valuation law on hold

Read the full article ↗

Inquirer.net

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