President Ferdinand R. Marcos Jr. on Tuesday bucked the proposal to temporarily implement rice tariff reduction in a bid to address the surge of rice prices in the market. “We decided with the agriculture and economic managers that … it was not the right time to lower the tariff rates because the
President Ferdinand R. Marcos Jr. on Tuesday bucked the proposal to temporarily implement rice tariff reduction in a bid to address the surge of rice prices in the market.
The President made the remarks after the sectoral meeting in Malacañang, where the National Economic and Development Authority presented updates on the proposed rice tariff reduction, according to a news release of the Presidential Communications Office. Farmer groups earlier said importers are set to gain if rice tariff will be suspended because some businessmen are already undervaluing rice. It is also seen to hurt the prices of palay .
However, during the meeting, NEDA Secretary Arsenio Balisacan and Department of Agriculture Undersecretaries Leocadio Sebastian and Mercedita Sombilla agreed that it is not the time yet to lower tariff rates because of the declining prices in the international market.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PBBM set to visit Saudi Arabia for Gulf cooperation summitThe Department of Foreign Affairs (DFA) on Tuesday announced that President Ferdinand Marcos Jr. will be traveling to Saudi Arabia
Read more »
Marcos disapproves temporary reduction of rice tariffsPresident Ferdinand R. Marcos Jr. on Tuesday disapproved the proposal to temporarily reduce rice tariffs to address the increase of rice prices in the market.
Read more »
Marcos thumbs down proposal to reduce imported rice tariffPresident Ferdinand Marcos Jr. on Tuesday rejected the proposed tariff reduction on imported rice being pushed by his economic managers.
Read more »
President: All hands on deck vs. agri smugglersPresident Ferdinand Marcos Jr. on Tuesday ordered a whole-of-government campaign to stamp out the “weevils” in the country’s agricultural sector,
Read more »