The Department of Finance (DOF) proposed a temporary reduction of the 35-percent rice import tariff rates to zero or a
Finance Secretary Benjamin Diokno also said the economic managers fully support the decision of President Ferdinand Marcos Jr. to impose a price cap on rice.
Diokno said the economic team views EO 39 as an essential stop-gap measure and underscored the importance of supplementing it with additional measures to achieve long-term rice price stability in the country. But Diokno said EO 39 could be proven effective in the near term, but should not persist for an extended period.
“We are advocating cooperation with tollway concessionaires and operators to temporarily exempt trucks catering to agricultural goods from increased toll fees, ensuring the efficient transportation of rice,” Diokno said.
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