The administration of President Ferdinand “Bongbong” Marcos Jr. was eyeing P2 billion in help to rice retailers who will incur losses because of Executive Order (EO) 39, which set a value cap on rice, Speaker Martin Romualdez of Leyte stated Monday.
Romualdez, in an announcement, stated that the House of Representatives, via House Appropriations Committee Chairperson Zaldy Co of Ako-Bicol party-list had reached out to the Department of Budget and Management (DBM) to search out fund sources for the P2 billion.
“Our goal is to ensure that we can extend assistance to rice retailers who may be affected by this rice price ceiling, as it is a directive from our President to protect the consumers,” stated Romualdez.
“We will engage with the DBM to expedite the release of the P2 billion funds for our rice retailers,” Co added.
Romualdez additionally stated he would search an viewers with the leaders of rice retailers nationwide later this week over the potential monetary losses from the rice value ceiling.
“The government is not insensitive. We want to listen to their concerns and try to find a solution to address their fears,” Romualdez said.
“Rest assured, the government is committed to supporting our retailers affected by this Executive Order,” the Speaker added. — DVM, GMA Integrated News
Source: www.gmanetwork.com
