Finance Secretary Ralph Recto is backing the proposed amendments to the Rice Tariffication Law.
Finance Secretary Ralph Recto , the chief economic manager of the Marcos administration, is backing the proposed amendments to the Rice Tariffication Law , particularly allowing the National Food Authority to buy and sell rice during emergencies.In a chance interview with reporters, Recto said the Department of Finance is currently studying the RTL amendments.“We're looking at it right now… We do have a position. But so far, I think the RTL is working,” the Finance chief said.“Okay.
On Monday, the House Agriculture and Food Committee released a substitute bill amending the RTL.The proposed bill in the House authorizes the NFA to buy and sell rice in emergency cases and increases farmers' productivity aid to P15 billion.Agriculture Secretary Francisco Tiu Laurel Jr. earlier said that there was no intention to revive the powers of the NFA amid moves to amend the RTL. Republic Act No.
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