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Manila Bulletin devider Philippines devider National devider Romualdez to call for another rice price cap if...

Romualdez to call for another rice price cap if...

Published Jan 8, 2024 01:50 am

At A Glance

  • House Speaker Martin Romualdez says he won't think twice about recommending another rice price cap to President Marcos should the situation need it. 

IMG-3fb895e467c67076e3557132232fc5cc-V.jpgHouse Speaker Martin Romualdez (Speaker’s office)

House Speaker Martin Romualdez says he won't think twice about recommending another rice price cap to President Marcos should the situation need it.

“We will continue to monitor the prices of rice and other staples. If we notice an unreasonable and unjustified increase, we will not hesitate to recommend to the President the reimposition of a price limit,” Romualdez said in a statement.

It was late August 2023 when Malacañang issued Executive Order (EO) No.39, which imposed a P41 per kilo price cap for regular milled rice and P45 per kilo price cap for well-milled rice.

The President was still the concurrent Department of Agriculture (DA) secretary when he ordered the price ceiling on the staple grain. He has since appointed Francisco Tiu Laurel Jr. as full-time agriculture chief.

Romualdez, arguably Marcos' top ally in the legislature, said that interventions like the price cap was instrumental in pulling down inflation late last year.

According to the House chief, he continues to receive reports that rice prices are still at P50 to P60 per kilo.

As such, Romualdez warned profiteers, hoarders, smugglers, and price manipulators that the House would not hesitate to exercise its oversight power by launching inquiries to expose them and their illegal activities.

ALSO READ:

https://mb.com.ph/2023/9/2/romualdez-s-words-show-how-serious-gov-t-is-with-rice-price-cap

Romualdez, Leyte’s 1st district congressman, had earlier launched the CARD (Cash Assistance and Rice Distribution) program.

Under the program, the beneficiaries--which include senior citizens, persons with disabilities (PWDs), solo parents and indigenous peoples (IPs)--will receive at least P2,000 worth of cash and rice assistance: specifically, a 25-kilogram sack of rice and P1,000 in cash to buy other food essentials.

“We will aim to reach more areas, especially remote communities, as soon as possible so we could help more people. We hope this project would ultimately have a favorable impact on food prices, on inflation and on poverty in general,” Romualdez said.

In partnership with the Department of Social Welfare and Development (DSWD), CARD teams have distributed rice and financial assistance to thousands of beneficiaries in Metro Manila and in the provinces.

CARD intends to reach tens of thousands of poor Filipinos in all legislative districts of the country.

Related Tags

Inflation rate rice price cap Martin Romualdez inflation rate
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