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Manila Bulletin devider Philippines devider National devider Romualdez: House committed to support farmers, make rice affordable

Romualdez: House committed to support farmers, make rice affordable

Published Jul 22, 2024 03:49 am

At A Glance

  • Speaker Martin Romualdez on Monday, July 22, said the House of Representatives would continue its efforts to support farmers in a bid to increase rice harvest and make the staple more affordable for Filipinos.

Safeguard duty on rice, corn sought(Keith Bacongco/MANILA BULLETIN)

Speaker Martin Romualdez on Monday, July 22, said the House of Representatives would continue its efforts to support farmers in a bid to increase rice harvest and make the staple more affordable for Filipinos.

Romualdez gave this assurance in his speech during the opening of the third and last regular session of the 19th Congress.

The Speaker said the House “welcomes and fully supports” the recently signed Executive Order (EO) No. 62 by President Marcos, which seeks to reduce the tariff on imported rice from 35 percent to 15 percent.

The Department of Agriculture (DA) anticipates that prices of rice will drop by at least P6 to P7 per kilo once the lowered rice tariff is fully realized.

Based on latest estimates, prices of imported and local commercial rice ranges from P48 to P60 per kilo.

“May I just add that in conjunction with the lowering of rice tariffs for the benefit of Filipino consumers, we will strive to provide all the necessary infrastructure, technological, and financial support to increase the productivity and income of our farmers,” Romualdez told his colleagues in plenary.

“By augmenting the rice supply and managing prices, rice becomes more affordable and thus, accessible to all Filipinos,” he emphasized.

Romualdez, leader of the 300-plus-strong House, said the lower chamber is also aiming “to safeguard the purchasing power of our countrymen by keeping inflation under control and reducing electricity cost".

According to the Philippine Statistics Authority (PSA), the country’s inflation for the month of June decelerated to 3.7 percent from 3.9 percent in May due to lower energy and transport costs.

“The amendment to the Electric Power Industry Reform Act (EPIRA), which we must finish in December, is expected to further ease inflation,” the House leader pointed out.

Earlier, Romualdez ordered a comprehensive review of EPIRA as a way to bring down the cost of electricity in the country.

Related Tags

House of Representatives Martin Romualdez Rice prices
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