Pagbawas sa duty rate sa bigas, inaprubahan ng NEDA Board

Transcript

00:00 President Ferdinand R. Marcos Jr. has approved the new comprehensive tariff program for 2024-2028.

00:08 It is expected to help maintain the price of the main goods in the market.

00:15 This is what Kenneth Paciente reported.

00:17 In an attempt to reduce the public's anger because of the high price of goods,

00:24 the NEDA Board approved President Ferdinand R. Marcos Jr.'s proposal to lower the duty rate of rice from 35% to 15% by 2028.

00:36 According to NEDA Secretary Arsenio Balizacan,

00:39 this will be a way to lower the price of rice in the market that is limited to the public.

00:46 The Department of Agriculture is aiming for a reduction of 39 pesos per kilo, at least for the poor,

00:57 because we will complement this tariff reduction with direct subsidies to the poor and vulnerable

01:06 so that at least they could access the food at 29 pesos per kilo.

01:10 But overall, with the tariff reduction from 35% to 15%, everybody will benefit from that.

01:20 According to Balizacan, this could be implemented next month or in August

01:25 because the Executive Order of the President needs to wait for the decision of the private sectors

01:31 on the need to import, but the secret will be revealed.

01:35 The 29 pesos that we are talking about is the target cost of rice for the poor,

01:44 those who are targeted for the poor people.

01:50 So it's not a general price because our concern is those who are least able to cope with the rice price,

02:02 the government should help them.

02:05 Balizacan pointed out that the government will not lose anything by lowering the tariff.

02:10 In fact, it will generate more revenue for the government.

02:15 The farmers should not be concerned if the Rice Competitiveness Enhancement Fund or RCEF

02:22 will be affected by lowering the tariff.

02:24 The remaining tariff is still quite substantial, 15%.

02:28 So whatever imports, if those imports are coming in at still elevated high prices,

02:35 it's still quite a substantial tariff revenue for the RCEF.

02:40 Plus, as I said earlier, the government has substantially increased the budget for the Department of Agriculture.

02:52 The budget for 2021, 2022, 2023, 2024, the average 69% increase compared to previous years.

03:02 The Comprehensive Tariff Program 2024-2028 was also approved at the NEDA Board meeting

03:08 as a way to maintain the price of the primary imports.

03:12 According to Balizacan, this is for agricultural and industrial products

03:16 that are included in the Customs Modernization and Tariff Act or CMTA, which is a way to strengthen the capacity of domestic industries

03:24 to work together with international industries to ensure the well-being of consumers.

03:29 The tariff maintenance will ensure access to inputs and support efforts to improve productivity and competitiveness.

03:36 This measure will help our domestic industries by reducing the cost they incur for their inputs,

03:44 enabling them to be more competitive, especially in the global market.

03:48 In the face of the challenges faced by energy,

03:51 the tariff reduction in some materials, including coal briquettes, was also approved

03:56 to ensure energy security in the country.

03:59 Kenneth Paciente for Pambansang TV in Baguio, Philippines.