MANILA – Taxing rice imports will help bring down the price of the staple grain by P7 to P8 per kilo, a lawmaker who is pushing for the tariff said Thursday.
A bill seeking tariffs on rice in place of import quotas will be put to a vote on second reading next week, said House Agriculture and Food Committee chairman Jose Panganiban, who represents the ANAC-IP party list.
Revenue from tariffs will be used to fund subsidies for farmers, Panganiban told ANC.
Without tariffs, imported rice costs P27 per kilo, lower than the P34 to P35 per kilo production cost of local rice, he said.
President Rodrigo Duterte’s economic managers are also pushing for rice tariffs to help tame inflation. (ABS-CBN News)
