Economic managers urge Legarda to back rice tariffication

Sherrie Ann Torres, ABS-CBN News

Posted at Sep 14 2018 09:36 PM

MANILA – Finance Secretary Carlos Dominguez, Socioeconomic Planning Secretary Ernesto Pernia and Budget Secretary Benjamin Diokno on Friday attended a closed-door meeting with Senate Finance Committee chair Sen. Loren Legarda.

Diokno said inflation concerns were discussed during the meeting. 

The economic managers stressed the importance of passing the Rice Tariffication bill to help tame the rising prices of rice, he said. 

“We plan to remove talaga ‘yung existing restrictions on importation kung kailangan talagang mag-import. And, of course, sa long-term solutions, ‘yung sa rice ‘yung Senate approval of tariffication on rice,” he said.

The lower House has already approved the rice tariffication bill.

Diokno also assured the public that rice supply and prices would stabilize next month.

“Things will normalize” as supply from imports and local harvests flood the market next month, he said. 

Presidential Spokesperson Harry Roque earlier said that the administration's economic managers were preparing a draft Executive Order to tame inflation.