Govt intervention ordered to stabilize food supply, prices
President Gloria Macapagal-Arroyo has ordered concerned government agencies to intervene in the stabilization of food supply and prices following the damage caused by cyclones “Ondoy" and “Pepeng" to the country.
Through Executive Order 834, President Arroyo authorized the National Food Authority (NFA), Food Terminal Inc. (FTI) and Philippine International Trading Corp. (PTIC) to use their funds, personnel and facilities to stabilize the supply and prices of basic commodities.
“There is a need to address the basic needs of the less fortunate sectors, especially those in the depressed areas, to assure their continuous access to basic food items," she said in the order.
President Arroyo also ordered the three agencies to include basic food items, such as pork and chicken, in their importations to help stabilize the country’s food supply.
She added that all disbursement and expenses related to these importations shall be treated as “special projects" and shall be eligible for tax expenditure subsidy.
The President likewise directed Agriculture Secretary Arthur Yap to determine the reasonable volume of pork and chicken that needs to be imported to stabilize food prices.
Cyclones Ondoy and Pepeng, which hit the country late September to early October, respectively, brought a total of P26.4 billion worth of damage to the local agricultural sector, government figures showed. - GMANews.TV
Through Executive Order 834, President Arroyo authorized the National Food Authority (NFA), Food Terminal Inc. (FTI) and Philippine International Trading Corp. (PTIC) to use their funds, personnel and facilities to stabilize the supply and prices of basic commodities.
“There is a need to address the basic needs of the less fortunate sectors, especially those in the depressed areas, to assure their continuous access to basic food items," she said in the order.
President Arroyo also ordered the three agencies to include basic food items, such as pork and chicken, in their importations to help stabilize the country’s food supply.
She added that all disbursement and expenses related to these importations shall be treated as “special projects" and shall be eligible for tax expenditure subsidy.
The President likewise directed Agriculture Secretary Arthur Yap to determine the reasonable volume of pork and chicken that needs to be imported to stabilize food prices.
Cyclones Ondoy and Pepeng, which hit the country late September to early October, respectively, brought a total of P26.4 billion worth of damage to the local agricultural sector, government figures showed. - GMANews.TV
advertisement
advertisement
advertisement
