Agriculture Secretary Francisco Tiu Laurel, Jr. created a Technical Working Group (TWG) to ensure stability in the supply and prices of staple necessities and prime commodities.
The task group will work on implementing rules and regulations (IRR) that align agricultural purchasing with section 9 of the Price Act.
Laurel said that the act allocates buffer funds to procure, purchase, import basic necessities and determine strategies to sell them to consumers at a reasonable price.
The act was written to protect consumers against unreasonable price hikes and provide fair purchasing practices.
The TWG will also work with other government agencies like the Department of Trade and Industry (DTI) and other experts and stakeholders to solidify the IRR.
DA forms TWG to draft rules for agri price stability
At a glance
The Department of Agriculture (DA) has created a technical working group (TWG) to devise regulations aimed at securing stability in the supply and pricing of essential staple items and key commodities.
In a statement, Agriculture Secretary Francisco Tiu Laurel, Jr. announced the formation of a task group to develop implementing rules and regulations (IRR) aimed at aligning agricultural products with the Price Act, also known as Republic Act 7581.
“[The act] provides the allocation of a buffer fund for the procurement, purchase, importation or stockpiling of basic necessities or prime commodities and determine ways to distribute these items during times of shortages,” Laurel said.
The Price Act was enacted to safeguard consumers against unreasonable price hikes and provide fair purchasing practices, while section 9 of the law would allow the DA to sell its purchased products and distribute them back to the consumers at a more sensible cost.
Laurel instructed the working group to develop a concise and proper set of rules for the agency, as well as involve other government bodies in creating the IRR like the Department of Trade and Industry (DTI).
They are also responsible for meeting with consumer groups, market experts, and other stakeholders that could help solidify the new policies.
The 8-member TWG head was Noel A. Padre, who is also the Assistant Secretary for Policy Research and Development.
The task group’s co-chairperson role was given to Assistant Secretary for Regulations Paz Benavidez II.
In addition, Jerome Bunyi, the officer-in-charge for the Policy Research Service, was elected vice chairperson.
Meanwhile, three other departments such as the Personnel from the Policy Research Service, the Office of the Assistant Secretary for Regulations (OASR), and the Agribusiness and Marketing Assistance Service (AMAS) will be the appointed secretariat and administrative support to TWG.