Sen. Cynthia Villar said the National Economic and Development Authority (NEDA) is recommending to keep the present rice tariff rate because of foreign exchange concerns.
Villar discussed the matter during the Senate plenary deliberations on the proposed 2025 budget of the Department of Agriculture late Monday evening. Villar is the sponsor of the DA's budget.
The recommendation, she said, was the result of the consultations conducted by the NEDA as required under President Marcos' Executive Order (EO) 62.
Under the EO, the tariff rate shall be subjected to a review every four months, with the NEDA submitting its findings and recommendations to the President through the Office of the Executive Secretary.
"NEDA already conducted the review and they want to maintain (the lower tariff) until the next review, which is in February," Villar said.
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