House ratifies bicam report on proposed amendments to RTL | ABS-CBN

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House ratifies bicam report on proposed amendments to RTL

House ratifies bicam report on proposed amendments to RTL

Vivienne Gulla,

ABS-CBN News

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MANILA -- The House of Representatives ratified on Wednesday the bicameral conference committee report on the proposed amendments to the Rice Tariffication Law. 

The measure proposed to allow the selling of NFA rice buffer stock to the public through Kadiwa outlets during food security emergency situations to help stabilize rice prices. 

It also proposes to increase the annual appropriation for the Rice Competitiveness Enhancement Fund to P30 billion from the current P10 billion. 

"The allocation and disbursement of the P30 Billion RCEF was amended, as follows:

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(a) Rice Farm Machineries and Equipment - P9 Billion; 

(b) Rice Seed Development, Propagation, and Promotion - P6 Billion; and 

(c) Programs, activities, and projects that will most effectively promote farmers' productivity, supply resiliency, and address food security emergency situations on rice due to supply shortage or extraordinary increase in rice prices - P15 Billion," the bill said. 

It will be transmitted to the Office of the President for his consideration and signature.

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