While President Ferdinand "Bongbong" Marcos Jr. assured that the rice price cap is only temporary, he ordered the prompt release of aid to rice retailers affected by the price ceilings on rice.
Marcos told the Department of Social Welfare and Development (DSWD) to release the pay out to affected retailers immediately before he left for Jakarta on Monday, Sept. 4.
"Ang marching order ng Pangulo: DSWD, bilisaan n'yo yung pag-payout (The President's marching order to DSWD was to release the payout immediately)," DSWD Secretary Rex Gatchalian told Malacañang reporters.
"So kami matapos nga nito, tatawag na ako sa DTI at kukulutin na natin sila kaagad na makuha ko yung listahan at yung parameters na tinatanong ninyo para agad agad. Nakakasa naman kami nationwide. May special disbursements officer naman kami nationwide at iyon yung gagamitin natin para maka-payout kaagad tayo (So after this, we will reach out to DTI to obtain the list and parameters you're asking about. We stand ready nationwide. We have special disbursement officers nationwide and we will tap them to release the payout immediately)," Gatchalian added.
In his departure speech, Marcos recognized that the retailers will be the most affected in the upcoming price ceiling on rice. He said "we know about that so we came up with a plan."
He disclosed that the Department of Trade and Industry (DTI) and Department of Agriculture (DA) are coming up with a list of rice retailers and associations who will take the hit of the price cap implementation.
"At habang ginagawa 'yan ay kinakalkula rin kung ang magiging lugi nung mga rice retailer dahil nga sa price cap, kaya't ang DSWD naman ay tiniyak namin na meron silang pondo, ihanda, upang pagkanakulkala na natin ang lugi ng mga rice retailer ay bibigyan naman natin sila ng katumbas na tulong (And while that is being done, we are calculating the expected losses of rice retailers due to the price cap, so we are ensuring that the DSWD has a fund so that when we get the numbers, we can finally give them the necessary assistance)," Marcos said.
According to Gatchalian, the DSWD will tap its sustainable livelihood program—the same program used by the government to help affected small businesses during the Boracay rehabilitation and Covid-19 lockdown.
The DSWD chief said that the assistance that will be given to the affected retailers will be "commensurate with their possible losses."
"It is a temporary stop gap measure lamang siya so we don't expect it to be very long. Pero kaya nga importante yung speed or yung turnaround namin (That's why our speed or turnaround is important)," Gatchalian said.
Before leaving for Jakarta to participate in the Association of Southeast Asian Nations (ASEAN) summit, Marcos assured the retailers that the price cap will not last long as ample rice supply will be coming in by the second week of this month.
READ MORE: Marcos urges retailers: Bear with price cap; gov’t help underway