Manila solon files bill seeking to punish rice hoarders, cartels
A Manila congressman has filed a bill seeking to punish rice hoarders, profiteers and people who engage in cartel operations and price manipulations.
In filing House Bill No. 7417, or the Rice Security and Stability Act of 2018, Tondo Rep. Manny Lopez said the measure sought to identify the liability of individuals and businesses engaged in such acts.
“Let us put an end to blame finding when there is a well-reported or looming rice shortage and or cartel operations,” Lopez said.
Under the bill, a fine of P50 million and imprisonment for a period of not less than six years but not exceeding 12 years shall be imposed on any person who commits any of the prohibited acts.
At the recent House inquiry on the rice shortage, Lopez said 13 companies allegedly controlled rice prices in the Metro Manila.
