President Ferdinand Marcos Jr. supports the proposal to amend the Rice Tariffication Law and allow the National Food Authority (NFA) to sell cheap rice.
Speaking to reporters on Monday, May 6, at the Philippine International Convention Center in Pasay City, President Marcos confirmed that he will certify such measures as urgent.
"Kung magkaroon ng mga amendments sa NFA charter, at saka sa Rice Tariffication Law, magagawa natin, mako-control natin, mayroon tayong influence doon sa presyuhan sa pagbili ng palay at sa pagbenta ng bigas," the President said.
President Marcos believes that the rise in rice prices stemmed from competition between traders.
"Ang problema kasi kaya tumataas ang presyo ng bigas dahil ang mga trader ay nagko-compete. Pataasan sila ng presyuhan sa pag-bili ng palay at wala tayong control doon," he explained.
House Speaker Martin Romualdez earlier said that the Lower House of Congress will pass a bill that will seek to amend Republic 11203, also known as the Rice Tariffication Law, to allow ther NFA to buy and sell rice.
Romualdez also called on the Senate to act on the amendments with urgency.
