Malacañang OKs anti-inflation measures

  • Malacañang is amenable to several measures put forward by the economic team to curb inflationary pressures, the National Economic and Development Authority (NEDA) said on 12 Sep 18.
  • The Economic Development Cluster (EDC) has identified a number of measures to slow down rapid inflation affecting the nation.
  • To drive down the prices of fish, the Department of Agriculture has committed to import more fish under a certificate of necessity and allow imports to be distributed in wet markets.
  • To address rice supply issues, 4.6 million sacks of rice available in warehouses of the National Food Authority (NFA) would be immediately released to markets. This supply would be on top of the two million sacks contracted for delivery before the end of Sep 18 and the five million sacks set to arrive in a month’s time.
  • The EDC also recommended the simplification and streamlining of licensing procedures for rice imports of the NFA.
  • The Senate was likewise urged to pass by the end of Sep 18, the Rice Tariffication Bill which would liberalize rice trade in the country, therefore increasing supply and driving down prices.
  • To reduce the gap between farmgate and retail prices for chicken, DA and DTI would convene poultry producers and set up public markets where producers can sell directly to the end customer. DA would provide cold storage for poultry.
  • The Bureau of Customs, meanwhile, would prioritize the release of essential food items in the ports.

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