Bicam approves Rice Tariffication Bill
PASAY CITY, Philippines – The Bicameral Conference Committee has approved the rice tariffication bill on Thursday (November 22).
Under the proposal, import restrictions will be lifted on rice importation along with the creation of the Rice Competitiveness Enhancement Fund (Rice Fund).
According to the Chairperson of the Senate Committee on Agriculture and Food Senator Cynthia Villar, the proposed measure will benefit ordinary farmers.
This is through excesses in rice tariff revenues and from the P10-B fixed appropriation on the rice fund that will serve as direct financial assistance to rice farmers.
“If we are successful in the competitive enhancement, katulad ng seeds can increase their harvest from 4 metric tons per hectare to 6 that 50 % increased in productivity we’re rice sufficient,” Villar explained.
The bill is expected to be signed by President Rodrigo Duterte before the end of the year. – Marje Pelayo (with reports from Nel Maribojoc)
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