According to Cayetano, the House of Representatives, which possesses the power of the purse, will work to raise the National Food Authority’s palay purchasing fund from the current proposed amount of P7 billion to at least P9 billion.
Republic Act 11203 or the controversial Rice Tariffication Law has been blamed for the huge drop in farm gate prices of local palay, which according to reports is now P8 to P12 per kilo. This is because the law liberalized the importation of cheaper rice varieties to the Philippines, making it hard for local farmers to sell palay that they harvested.“I think the DOF already collected more than P9 billion [in tariffs from rice imports],” said Cayetano, who represents Taguig-Pateros.
“Ang focus ng ating Pangulo is on security, and makikita niyo parating naghahagilap ng pondo ang PNP at AFP, paano ayusin yung mga camp ,” he said.
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