President Ferdinand Marcos on Thursday assured that he would certify the Rice Tariffication Law as urgent as part of the administration’s efforts to combat the rising rice prices.
“Yes. It will be certified, but it seems there has been a good discussion between the House and the Senate, we have found a solution so that the government can import for us to lower it,” President Marcos disclosed.
“When the price of rice is high, we will release rice, we will sell it at a lower price so that the market will follow,” Mr. Marcos explained.
While the specifics of the solution are yet to be finalized, President Marcos expressed confidence that it will effectively address the issue.
“Well, I don’t want to preempt the bicameral committee but I think we have already found the solution. So that somehow, maybe the mechanism will be different from what was proposed but in the end, the net effect will still be the same, the national government will be able to import,” he stated.
President Marcos said he is currently coordinating with relevant agencies to implement the solution promptly.
“I don’t know which agency first. They will have to decide which is best. Of course, we are coordinating, and I think we may have found the solution and we will see that immediately,” the President explained.
