THE HOUSE of Representatives on Tuesday approved on third and final reading a bill that seeks to reinstate the ability of the National Food Authority (NFA) to sell rice at subsidized prices during emergencies.
The bill will amend the Rice Tariffication Act, which gave private sector traders full control over rice imports and removed the NFA’s regulatory power over the rice sector.
Based on Tuesday’s plenary session, 231 legislators voted for House Bill No. 10381, three said no and one abstained.
“This bill… signifies a crucial milestone in our efforts to enhance the government’s ability to stabilize rice prices during emergencies, such as excessive price increases or acute shortages,” Quezon Rep. Wilfrido Mark M. Enverga, who heads the House agriculture committee on Agriculture, told BusinessWorld in a Viber message.
The bill is expected to cut rice prices by much as P15 a kilo. — Kenneth Christiane L. Basilio
