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President Ferdinand "Bongbong" Marcos Jr. has approved the new Comprehensive Tariff Program for 2024-2028, National Economic and Development Authority Secretary Arsenio Balisacan said on Tuesday.At a Palace press briefing, Balisacan said the program calibrates the current tariff rates until 2028, noting that this was a strategic move to ensure access and affordability to essential commodities.
"During its 17th meeting, the NEDA Board acted on the recommendation of the Committee on Tariff and Related Matters, or CTRM, to maintain the current rates on more than half of the tariff lines covering various agricultural and industrial products that have relatively low applied tariffs, particularly for raw materials and intermediate inputs used in manufacturing," Balisacan said.
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