Some senators have agreed to temporarily reduce tariff rates on rice even though the government stands to lose “less than P10 billion” in revenues, according to the Department of Finance (DOF). It was mentioned however by Finance Undersecretary Domini Velasquez that while the projected...
House Speaker Martin Romualdez (left), DOF Secretary Ralph Recto (Speaker’s office, Facebook) House Speaker Martin Romualdez has thanked on Wednesday, May 29 Department of Finance (DOF) Secretary Ralph Recto for making good his...
Reducing the tariff on imported rice to 17.5 percent would be more favorable to the consumers and farmers, Finance Secretary Ralph G. Recto said. On the sidelines of the Philippine Economic Briefing on Monday, May 27, Recto said that there should be a balance between the two parties when...
National Economic and Development Authority Secretary Arsenio M. Balisacan said that the reduction of domestic rice prices by 20 percent in September is possible given that world prices will decline. Balisacan referred to the statement by Finance Secretary Ralph G. Recto, noting that external...
President Marcos has urged Congress to allow the National Food Authority (NFA) to import rice as doing so would lead to the stabilization of rice prices. President Ferdinand ‘Bongbong’ Marcos Jr. (Malacañang photo) Marcos said this as the government works to amend the Rice Tariffication Law...
The House plenary hall (Contributed photo) On just its third week in the legislative mill, the measure seeking to provide the public with cheaper rice by tweaking the Rice Tariffication Law (RTL) has been approved on third and final...
House Speaker Martin Romualdez (left), Senate President Francis "Chiz" Escudero (Facebook) House Speaker Martin Romualdez is looking forward to working with newly-installed Senate President Francis "Chiz" Escudero. "I would like to...
President Marcos believes that the government has already found the best solution to lower the price of rice in the market amid plans to certify as urgent the proposed amendments to the Rice Tariffication Law (RTL). President Ferdinand ‘Bongbong’ Marcos Jr. (Malacañang photo) In an interview...
Tingog Party-list Rep. Jude Acidre (Ellson Quismorio/ MANILA BULLETIN) House Deputy Majority Leader Tingog Party-list Rep. Jude Acidre is hoping that senators would empathize with the situation of hungry Filipinos and act on the proposed amendments...
The Department of Finance (DOF) will review the proposed amendment to the Rice Tariffication Law (RTL) to ensure that the debts from the National Food Authority (NFA) do not inflate. Finance Secretary Ralph G. Recto said that the law is working, however, he noted that some tweaks should be done to...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) The House of Representatives has approved on second reading a measure seeking to amend Republic Act (RA) No. 11203, or the Rice Tariffication Law (RTL), in a bid to lower rice...
The Office of the Ombudsman (OMB) has lifted the preventive suspension order earlier issued against 72 National Food Authority (NFA) warehouse supervisors who were reportedly involved in the low-priced sale of rice buffer stocks without the conduct of public bidding and prior approval by the NFA...
