The implementing rules and regulations of the country’s new rice tariff law are now in the hands of the Department of Agriculture, the Palace announced on Tuesday.
In a statement after the 36th Cabinet meeting on Monday evening, Presidential Spokesman Salvador Panelo said the IRR for the Rice Industry Modernization was already approved by the National Economic and Development Authority and the Department of Budget and Management.
“The IRR of the Rice Tariffication Act was likewise tackled. The IRR is already signed by the NEDA and the DBM while it is still pending with the legal department of the DA,” Panelo said in a statement Tuesday.
“The IRR is expected to formulate a rice industry roadmap for the development of this sector,” he added.
In order to liberalize rice importation by replacing quantitative import restrictions with tariffs, President Rodrigo Duterte has signed Republic Act No. 11203 last February.
Under the law, unlimited rice importation will be allowed. Potential investors, however, must first secure a phytosanitary permit from the Bureau of Plant Industry and pay the 35-percent tariff for shipments from the Association of Southeast Asian Nations. For non-ASEAN countries, the government requires the collection of a 50-percent tariff for rice imports.
The law also mandates the creation of the P10-billion Rice Competitiveness Enhancement Fund. The Palace has previously assured the public that the government will handle the multi-billion-peso fund with more accountability and transparency.
According to Panelo, the Agriculture secretary shall oversee the proper and responsible utilization of the rice fund as mandated by RA 11203.
He added that the Congressional Oversight Committee on Agricultural and Fisheries Modernization shall also conduct a periodic review of the rice fund.
Panelo also called on the rice stakeholders to be actively involved in ensuring anti-corruption safeguards during the crafting of the envisioned Rice Industry Road map and the law’s IRR.”‹
