House Bill 9284 classifies large-scale smuggling, hoarding, profiteering, cartelizing, and other acts of market abuse as economic sabotage that is punishable with life imprisonment.
The House of Representatives on Wednesday approved on third and final reading the bill that seeks to strengthen the Anti-Agricultural Smuggling law by imposing heavier penalties against smugglers., which was certified as urgent by President Ferdinand Marcos Jr., was approved by 289 lawmakers, with no negative and abstaining votes.
It classifies such acts as economic sabotage, which the bill defines as an act or activity that undermines, weakens, or renders into disrepute the economic system or viability of the country. In a statement, House Speaker Martin Romualdez warned those involved in smuggling, hoarding, and cartel that their days are numbered.
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