RICE TARRIFICATION BILL. Senator Juan Edgar Angara explains to Tacloban-based reporters the status of Rice Tariffication Bill in the Senate during the 10th 'Oktubafest' in Tacloban City . (Photo by Sarwell Q. Meniano)
TACLOBAN CITY -- Senators are eyeing the passage of the Rice Tariffication Bill before the year ends as one of the measures to ensure stable supply of rice and provide safety net for local farmers.
Senator Juan Edgar “Sonny” Angara is confident the proposed law, which is now up for third and final reading in the Senate, will be signed by President Rodrigo Duterte by December.
“We give to private sector the power to import rice since only NFA (National Food Authority) and few traders are in control of rice importation. This measure will not allow the big traders to dictate the price of rice,” Angara told reporters.
The law will ensure stable supply of rice in the market and generate more taxes from rice imports, Angara said. The Senate has started the interpolation of Senate Bill No. 1998 on September 19.
The proposed bill replaces the quantitative import restriction on rice with tariffs and lifts the quantitative exports restrictions on rice.
The measure has been certified as urgent by President Rodrigo Duterte in his recent State of the Nation Address.
Senator Grace Poe, in a separate interview, said since rice tariffication will affect local producers, the bill has placed some safety nets to minimize losses among farmers.
“Collections from rice tariffs can be used as financial assistance to farmers’ groups for the procurement of seedlings, fertilizers, pesticide, and other production support needs,” Poe told reporters.
A key feature of the bill is the creation of the Rice Competitiveness Enhancement Fund or the Rice Fund with an initial appropriation of PHP10 billion sourced from the national budget until such time there is enough collection from tariff.
The two senators were in this city Friday to join the 10th Oktubafest, the showcase of best local wine known as “tuba” (coconut wine).
The festival is the local version of the German beer fiesta known as “Octoberfest.” Thousands of tuba producers, officials, and students gathered at the City’s Astrodome for the annual event organized by An Waray Partylist. (PNA)
