Marcos: Give rice retailers aid
We anticipated that some retailers will be affected since they bought rice at a higher price. DTI, the Department of Agriculture are taking steps to list all rice retailers
Daily TribuneWe anticipated that some retailers will be affected since they bought rice at a higher price. DTI, the Department of Agriculture are taking steps to list all rice retailers
President Ferdinand "Bongbong" Marcos Jr. directed the Department of Trade and Industry, or DTI, to speed up the distribution of financial aid to retailers who are expected to reel from the effects of Executive Order 39 which imposed price ceilings on regular-milled rice at P41.00 per kilogram and well-milled rice at P45.00/kg.
"We anticipated that some retailers will be affected since they bought rice at a higher price. DTI, the Department of Agriculture are taking steps to list all rice retailers," President Marcos Jr. said in his departure statement ahead of his attendance to the 43rd ASEAN Summit and Related Summits in Jakarta, Indonesia.
With this, Trade and Industry Secretary Fred Pascual ordered the creation of a Special Task Force that will ensure the efficient implementation of the EO.
Subsidies farmed out
In coordination with other government agencies and stakeholders, the DTI will implement assistance to rice retailers/wholesalers, including small supermarkets that will be affected by the price ceiling which are financial assistance; loan programs; logistics support and market linkages and support.
Through the Department of Social Welfare and Development, financial aid or compensation will be given to retailers/wholesalers in wet markets and neighborhood sundry stores to cover the difference between the cost of the current inventory of rice and the price ceiling.
The government will likewise provide transportation in delivering rice from traders to retailers to reduce logistical costs.
Market linkages will be established to link local farmers with supermarket chains and other retailers and promote bulk buying or advance purchase of supermarkets, restaurants, hotels, resorts, and other commercial establishments.
Members of the Special Task Force agreed to start the conduct of the profiling and validation of retailers in coordination with the DA, local government units, and the local price coordinating councils.
Likewise, DTI will mobilize associations to gather list of retailers and properly identify potential beneficiaries.
