BIG PUSH FOR CHEAPER RICE
THE House of Representatives has approved on third and final reading a bill seeking to amend the Rice Tariffication Law (RTL), which restore the functions of the National Food Authority in stabilizing the prices of rice.
The House Bill 10381 got the support of the 231 members of the House of Representatives two days before the adjournment sine die. Three solons registered their negative votes while one abstained.
The main purpose of the measure is to enhance the government’s buffer stocking capabilities and authorize market interventions to stabilize rice prices during emergency situations, ultimately easing the burden on consumers.
Speaker Ferdinand Martin G. Romualdez hailed this development as a significant stride in ensuring a steady food supply for the nation.
Romualdez said the bill is committed to ensuring affordable rice prices for every Filipino household.
“By strengthening buffer stocking capabilities and enabling market interventions, we are working towards a future where no family has to worry about the cost of this staple food,” Romualdez said.
“Affordable rice prices are not just an economic issue but a matter of social equity,” he added.
The bill’s approval is a testament to the collaborative efforts of House members, highlighting a shared resolve to tackle food security challenges.
“I commend my colleagues in the House for their unwavering support in passing this crucial legislation,” the House leader said.
“Following the passage of this measure, we are providing the government with the tools necessary to effectively manage rice prices and safeguard the welfare of our farmers and consumers.”
HB 10381 aims to further amend RA 8178, previously modified by RA 11203, also known as the Rice Tariffication Act, introducing significant changes to the regulation, monitoring, and stabilization of the rice industry.
