PBBM's rice price cap could backfire vs consumers, solon warns
At A Glance
- The Palace-ordered price cap on rice--the Filipino staple food--could end up backfiring on consumers, said AGRI Party-list Rep. Wilbert T. Lee.
AGRI Party-list Rep. Wilbert T. Lee (left) and President Ferdinand "Bongbong" Marcos Jr. (Rep.Lee's office, Speaker's office)
The Palace-ordered price cap on rice--the Filipino staple food--could end up backfiring on consumers.
Thus, said AGRI Party-list Rep. Wilbert T. Lee as he told the government to closely watch the implementation of such price cap.
As per President Ferdinand "Bongbong" Marcos Jr.'s Executive Order (EO) No. 39, a price ceiling of P41 per kilo and P45 per kilo will be imposed on regular milled rice and well-milled rice, respectively.
“Isang stopgap measure itong ipinag-utos ni Pangulong Marcos na price ceiling sa presyo ng ating bigas para mapagaan ang pasanin ng ating mga consumers na matagal nang bugbog sa nagtataasang presyo ng mga bilihin,” said Lee.
(The President Marcos-ordered price ceiling on rice prices is a stopgap measure that's meant to provide relief to consumers who have long been wary of rising prices of basic goods.
According to Lee, the profit margins of the rice traders and retailers will dictate what would happen next.
“Dapat maiging bantayan ng gobyerno ang pagpapatupad nito dahil maaaring magresulta ito sa pagbaba o mas limitadong supply sa merkado. Pwedeng magdalawang-isip ang pribadong sektor na magbenta na kakaunti o hindi sila kikita. Mahirap naman na mas mura nga, pero pahirapan naman ang pagbili,” warned the Bicol lawmaker.
(The government should watch its implementation closely since it could result to reduced or more limited supply in the market. The private sector could think twice about selling rice if their profit margin is too low or non-existent. It's a difficult situation to have rice scarcity, even if the price is lower.)
Lee renewed his call for the government to implement long-lasting interventions to alleviate rising rice prices.
"Kailangan din natin ng sustainable o pangmatagalang mga solusyon tulad ng agarang pamamahagi at pagdaragdag ng post-harvest facilities sa ating mga magsasaka, at ang isinusulong natin na pagpapalakas sa anti-agri smuggling law,” the rookie solon said.
(We also need sustainable or long-term solutions like the creation of additional post-harvesf facilities to our farmers, and strengthening our anti-agri smuggling law.)
Lee has filed House Bill (HB) No. 9020 or the "Cheaper Rice Act". It aims to establish a program that will provide subsidies intended to lower rice prices while encouraging farmers to increase their production.