Speaker cites Recto for reducing rice tariffs to cut prices of staple

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Speaker Ferdinand Martin G. Romualdez on Wednesday expressed his gratitude to Finance Secretary Ralph Recto for fulfilling their agreement to reduce rice tariffs, a move intended to lower the price of rice to below P50 per kilo.

Last week, Romualdez met with Recto, Agriculture Secretary Francisco Tiu Laurel, Jr., Customs Commissioner Bienvenido Rubio, and House Appropriations Committee chairman Zaldy Co of Ako Bicol party-list to craft practical solutions to mitigate the financial strain on consumers while securing fair compensation for local rice farmers.

Despite the planned tariff reduction, Romualdez said farmers will continue to receive support from the Rice Competitiveness Enhancement Fund , funded by taxes collected under Republic Act 11203 .

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MlaStandard /  🏆 20. in PH

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