National Economic and Development Authority (NEDA) Secretary Arsenio on Thursday said the decision to lift the price ceiling on the retail prices of rice varieties commonly purchased by households will come out “very soon.” At the sidelines of a summit in Manila, Balisacan told reporters the gove
National Economic and Development Authority Secretary Arsenio on Thursday said the decision to lift the price ceiling on the retail prices of rice varieties commonly purchased by households will come out “very soon.”
Asked when the price caps—which have been in effect since September 5—will be lifted, the NEDA chief said, “[V]ery soon because as we all know it, you can’t keep price cap for so long because the negative effects can far outweigh the positive effects.” Balisacan said the price control measure could be lifted next month as the harvest season is seen to peak some time in October.
For his part, Trade Secretary Alfredo Pascual said the government is still conducting further study and monitoring the movement of the global prices of the crop staple.
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