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PH gov’t eyeing P2-billion aid for rice retailers amid price cap

The administration of President Ferdinand "Bongbong" Marcos Jr. is eyeing P2 billion in aid to rice retailers who will incur losses as a result of Executive Order (EO) 39, which set a price cap on rice, Speaker Martin Romualdez of Leyte said Monday.

Romualdez, in a statement, said that the House of Representatives, thru House Appropriations Committee Chairperson Zaldy Co of Ako-Bicol party-list had reached out to the Department of Budget and Management (DBM) to find fund sources for the P2 billion.

“Our goal is to ensure that we can extend assistance to rice retailers who may be affected by this rice price ceiling, as it is a directive from our President to protect the consumers,” said Romualdez.

“We will engage with the DBM to expedite the release of the P2 billion funds for our rice retailers,” Co added.

Romualdez also said he would seek an audience with the leaders of rice retailers nationwide later this week over the potential financial losses from the rice price ceiling.

"The government is not insensitive. We want to listen to their concerns and try to find a solution to address their fears,” Romualdez said.

“Rest assured, the government is committed to supporting our retailers affected by this Executive Order," the Speaker added. — DVM, GMA Integrated News