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CONSUMER-PRODUCER BALANCE

Admin OKs measures to ease price surge

/ 07:21 AM August 29, 2018
roque palace

Presidential Spokesperson Harry Roque. File photo

Malacañang said on Tuesday it was implementing measures, such as importing “galunggong” (round scad) and removing special safeguards on onions and poultry, to help the country mitigate the rising cost of goods and services.

Presidential spokesperson Harry Roque said the measures were approved after the country’s economic managers and other Cabinet members met recently.

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The officials agreed that the proposal to reduce tariffs on food imports would not help bring down the prices of basic necessities, especially food, Roque said.

He told reporters that maintaining tariffs on food imports was also aimed at protecting the country’s farmers and fishermen.

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“Focus is on finding pragmatic solutions that will balance consumer and producer interest and achieve price reprieve at the soonest possible time,” Roque said, reading a statement.

Prices of food, including rice, have been soaring over the past months. Inflation last month rose to 5.7 percent year-on-year nationwide and to 6.5 percent in Metro Manila.

“We will not allow, of course, the importation of formalin-tainted (galunggong),” Roque said.

He said the removal of the special safeguards would result in lower tariffs on imported poultry products.

He said these measures were usually imposed on goods imported from countries that subsidize their farmers.

Roque said prices of imported onions were expected to go down in the next two weeks after the meeting between the agriculture officials and onion traders and importers on Aug. 23.  —CHRISTINE O. AVENDAÑO

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TAGS: galunggong, International news, Philippine news updates, price hike, rice, rising cost of goods and services
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