An economist-lawmaker filed the proposed Philippine Rice Emergency Response Act, which includes granting the President the power to address extreme cases of dwindling supply and soaring prices of rice.
“The Philippine Rice Emergency Response Act, filed as House Bill 9030, is not just a reaction to these challenges. Rather, it is a strategic set of solutions—a comprehensive tool kit—that seeks to shield consumers and our local farmers, as well as traders, during tight conditions in the rice market,” the lawmaker explained.“The first set of strategies is to directly address prices by ensuring sufficient supply.
“The bill serves this purpose. It paves the way for a strategic and efficient use of resources, aiming to support Filipino farmers and other vital stakeholders in the rice supply chain,” she said. The measure said that during a National Rice Emergency, the government can reduce or suspend tariffs on rice , allow the NFA to import for buffer stocking, use the unutilized funds of different government programs for subsidies for farmers, consumers, and retailers, and re-program the use of the Rice Competitiveness Enhancement Fund , including allowing the use of the fund for cash assistance for farmers and other suppliers.
Under the Rice Tariffication Law, the RCEF allocates P10 billion to four component programs: mechanization , seeds , extension , and credit .
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