Mon. Apr 22nd, 2024

    In a media interview on September 1, President Ferdinand R. Marcos Jr. assured the public that the structure for the good implementation of Executive Order no. 39, which imposes a price ceiling on rice, is in place.

    He said that various agencies will work together in the inspection and enforcement of the mandate. These include the Department of the Interior and Local Government, Department of Agriculture, Department of Trade and Industry, and Department of Justice.

    According to Marcos Jr., the purpose of the order is to protect consumers from high prices of rice caused by supply shortage and hoarding. He instructed local governments to provide regular reports on the rice situation in their areas.

    Marcos Jr. also warned unscrupulous businessmen who will violate the price ceiling. He said that penalties will be strictly imposed on those who will take advantage of the situation.

    Executive Order no. 39 was signed by Marcos Jr. on August 25 and sets a price ceiling of P40 per kilo of well-milled rice, P38 per kilo of regular-milled rice, and P34 per kilo of NFA rice. The order is effective until December 31, 2023 or until the supply shortage is addressed, whichever comes first.

    By balita.news

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