In an interview with radio dzBB yesterday, DTI Assistant Secretary Agaton Uvero said the government hopes that the implementation of the price ceiling on rice under Executive Order No. 39, which took effect last Tuesday, will not exceed one month.
“But it depends on … the results (of the implementation) in the market,” he said in Filipino. “We see that in three weeks time, the price will be a bit stable already.”
Under the EO, the price ceiling for regular-milled rice is set at P41 per kilo, while well-milled rice is at P45 per kilo. Based on the DTI’s price monitoring operations, many retailers have complied with the price ceiling.
When the harvest season starts in a few weeks, the local supply of rice is seen to increase, which will bring down rice prices, according to Uvero. He reiterated that the price ceiling does not cover premium rice.
Meanwhile, the DTI is validating the list of retailers affected by the price ceiling’s implementation so that they can receive financial assistance from the Department of Social Welfare and Development (DSWD), he said.
The DTI official expressed hope that the distribution of financial assistance will begin this week.
“Our target is before the week ends – the DSWD will begin the distribution of the assistance,” he said at the Laging Handa briefing yesterday.
He added that the financial assistance is expected to be around P15,000 per retailer.
The DTI earlier said it has started the profiling of rice retailers that have been affected by the rice price ceiling implementation as the government prepares the financial aid.
This story is from the September 07, 2023 edition of The Philippine Star.
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This story is from the September 07, 2023 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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