The government is likely to meet next week to discuss the implementation and lifting of the price caps on rice, according to the National Economic and Development Authority.
Rice dealers display rice and their prices at New York Street, Cubao, Quezon City on April 16, 2023.MANILA, Philippines — The government is likely to meet next week to discuss the implementation and lifting of the price caps on rice, according to the National Economic and Development Authority .
Under Executive Order 39, price caps were imposed on regular rice at P41 per kilogram and P45 per kilogram for well-milled rice amid increasing prices.“The President will announce that once he has all the information that he is asking us to show, to study, indicators that will be useful to inform that decision. Hopefully, in the next, in a week or so, we can come up with those indicators and the President can make the decision,” Balisacan said.
“We want to send a chilling effect on these cartels that have been operating for decades. We really mean business this time. And our primary task here is to protect the welfare of the masses – provide them with the most affordable goods in the market,” the Speaker said. The Speaker said once the anti-agricultural smuggling measure becomes a law, it would protect farmers and fishermen from smugglers, especially in times when prices are manipulated and agricultural products are hoarded.
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