A “sigh of relief” for consumers.
This was according to Quezon City 2nd District Rep. Winnie Castelo who is also the chair of the House Committee on Metro Manila Development regarding the recent passage of the Rice Tariffication Bill, which aims to lift the quantitative restriction on rice imports and removes the monopoly of the National Food Authority (NFA) on rice importation.
The measure is ready for the signature of President Rodrigo Duterte after hurdling the bicameral conference committee in November of last year.
“With the passage of this bill, consumers can expect cheaper rice prices in 2019,” said Castelo, who will be running for Quezon City councilor in the 2019 elections, a post he had previously occupied for four terms from 1995-2001 and from 2004-2010.
The bill is expected to lower rice prices by up to P7 per kilo and stabilize inflation.
“With a decrease in the prices of the food staple, our people can either eat more or benefit from the increase of available funds for other expense items for their families like tuition and medicines, among others,” added Castelo.
“With a decrease in the prices of the food staple, our people can either eat more or benefit from the increase of available funds.”
“This upcoming law, however, cannot be expected to immediately solve the problem of hunger and inflation, as it still needs to be implemented efficiently and effectively by the NFA and all concerned agencies,” warned Castelo.
“It still needs to be implemented efficiently and effectively by the NFA and all concerned agencies.”
“But good news is good news, and we welcome this yet another positive development on our way to a world-class society,” said Castelo.