Rice farming. INQUIRER/WILLIE LOMIBAO
The Senate on Wednesday ratified the bicameral conference committee report on the rice tariffication bill, which aims to lift quantitative restrictions on rice imports and replace it with levy.
Last November 22, the bicameral committee approved the measure that would allocate P10 billion to the Rice Competitiveness Enhancement Fund or Rice Fund to be utilized for the improvement of farm machinery and equipment, seed production, and training for rice farming, among others.
Senator Cynthia Villar, chair of the Senate Committee on Agriculture and Food, said the measure authorizes the National Food Authority to buy rice from local farmers.
READ: Bicam panel okays rice tariffication bill
The bicam report still needs to be ratified by House of Representatives before sending it to President Rodrigo Duterte for signature. /kga