President Ferdinand Marcos Jr. is forming a permanent inter-agency committee to address the still lingering elevated inflation, Finance Secretary Benjamin Diokno said Tuesday.
At a Palace briefing, Diokno said the high-level inter-agency committee will serve as an “early warning system” for demand and supply situations to address price and supply shocks.
“Kailangan ng early warning systems so magkakaroon ng isa komite na finorm ng Presidente na chair ako at co-chair ko si Secretary [Arsenio] Balisacan, NEDA; vice chairman si DBM Secretary si Mina [Pangandaman], and then member nung ang Agriculture, DTI at member din ang DILG at saka ‘yung DOST ,” the Finance chief said.
“Minsan mali ‘yung timing kasi magdedesisyon ka mag-import tapos darating dito sa atin eh tamang tama nag aani na ang mga farmers so umaangal talaga sila,” Diokno said.Diokno said the committee will use satellite technology to forecast production as well as the impact of natural disasters on farm produce.
“Madali naman mag-forecast ng production, gamitin mo ang satellite, para makita mo na ‘pag nagtanim pa lang malalaman mo how many hectares have been planted. So nakikita mo ang development. Tapos kung magkaroon ng bagyo makikita mo rin thru satellite."The Finance chief made the announcement after the release of the February 2023 inflation data.
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