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President Ferdinand Marcos Jr. will certify as urgent proposed amendments to Republic Act No. 11203 or the rice tariffication law in a bid to lower rice prices
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The amendment of the RTL and National Food Authority charter will allow the government to have control and influence on the prices of rice in the market
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Various bills have been filed in the Lower House and Senate proposing various amendments to the RTL
President Ferdinand Marcos Jr. will certify as urgent the proposed amendments to Republic Act No. 11203 or the Rice Tariffication Law (RTL) in a bid to lower rice prices in the country.
Marcos said amendments to the RTL and the charter of the National Food Authority (NFA) will allow the government to have control and influence the prices of rice in the market.
The president said the problem with high prices was due to traders competing when purchasing rice from farmers.
Speaking in the vernacular, he said, “We have no control over this.”
Marcos said if there will be amendments to the NFA Charter and the RTL, “We will have control over the prices of rice in the market.”
Asked if he will certify measures to amend the RTL, Marcos said: “Yes, I think it justifies the urgent certification.”
House Speaker Martin Romualdez earlier said the Lower House is working to amend the RTL to bring down the price of the staple by P10-15 per kilo. Amendments would include tariff rates, taxes, and the expanded authority of the NFA to purchase palay from farmers.
The RTL, or An Act Liberalizing the Importation, Exportation, and Trading of Rice, Lifting for the Purpose the Quantitative Import Restriction on Rice, and for Other Purposes, was signed on February 15, 2019 with the aim of bringing down the cost of the staple.
The Lower House Committee on Agriculture and Food last month deliberated on proposed amendments to the RTL.
Current bills filed in the Lower House that propose amendments to the RTL include House Bill Nos. 212, 9030, 1562, 9547 and 404, as well as House Resolution Nos. 1614 and 1636. In the Senate, Senate Bill No. 2601 was also filed to amend the RTL.
