Manila: President Ferdinand R. Marcos Jr. announced plans to issue an executive order setting a PHP50 per kilogram price cap on imported well-milled rice. This decision is part of the government's strategy to stabilize food prices in the face of global economic uncertainties.
According to Philippines News Agency, the executive order will be released promptly following a meeting of the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) committee. This move aligns with the National Price Coordinating Council's recommendation to monitor and stabilize essential goods and commodities' prices.
President Marcos affirmed that the prices of essential goods, including rice, remain within the suggested retail price levels. The government is actively monitoring around 205 commodities to ensure stability. Authorities are in talks with manufacturers and retailers to delay any price hikes until the following month.
The President also revealed an expansion of the government's subsidized rice program, increasing the supply to 2,000 tons due to heightened demand. Currently, 627 distribution centers are operational across the nation.
This initiative is part of broader government interventions under the declared national energy emergency, which addresses the impact of Middle East conflicts on global oil prices. Executive Order No. 110 supports a comprehensive government response via the UPLIFT framework, focusing on food security, transportation support, and price stabilization measures.
