President Ferdinand Marcos Jr. will impose a P50 per kilo price cap on imported well-milled rice through a forthcoming executive order.
“Ilalabas natin ang Executive Order para maipatupad na ito sa lalong madaling panahon,” Marcos Jr. said after a Unified Package for Livelihoods, Industry, Food, and Transport Committee meeting.
The move follows a recommendation from the National Price Coordinating Council as government tries to stabilize prices of 205 basic goods amid an energy emergency.
Marcos Jr. also expanded the P20 rice program, now covering 627 centers nationwide, with supply raised from 600 to 2,000 tons due to higher demand.
The President said prices of basic goods remain within suggested retail levels and confirmed talks with manufacturers and retailers to delay price hikes until next month.IMT
