Advocacy group hits plans to revise RTL

THE Foundation for Economic Freedom on Monday expressed concern over proposed changes to the Rice Tariffication Law , particularly the restoration of the National Food Authority's power to import and sell rice, as a means of lowering prices of the staple.The public advocacy group, which counts former Cabinet officials and leading economists as members, rejected claims that Republic Act 11203 had failed to prevent rising rice prices that have fueled domestic inflation.

RA 11203 also removed the NFA's regulatory and import licensing powers, ending its function of stabilizing rice prices. Several legislators and the Department of Agriculture have seized on this and want the law amended.The FEF said that if a government agency should be given the power to import rice, the Department of Trade and Industry, particularly state-owned Philippine International Trading Corp., would be the better choice as it is mandated to protect consumers.

Source: Law Daily Report (lawdailyreport.net)

Group Hits Plans To Revise RTL

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