SPEAKER Ferdinand Martin G. Romualdez on Friday vowed that the House of Representatives would continue helping President Ferdinand “Bongbong” Marcos Jr. in ensuring that food products are accessible and affordable.
The leader of the 300-plus-strong House made the commitment in reaction to the report of the Philippine Statistics Authority that inflation last month eased to 1.9 percent from 3.3 percent in August and 4.4 percent in July.
The September rate was the lowest in four years.
“The intervention measures taken by the government under the leadership of President Marcos Jr. are now yielding positive results,” Speaker Romualdez said.
He specifically cited the President’s decision to drastically cut the rice import tariff from 35 percent to just 15 percent, and the direct sale of rice to the public through Kadiwa stores.
“These twin steps have significantly reduced the retail price of rice, from above P50-P60 per kilo to P40-P42 per kilo, or by at least 20 percent,” Speaker Romualdez said.
The lawmaker from Leyte also made mention of the President’s flagship program – the Bagong Pilipinas Serbisyo Fair (BPSF) and Presidential Assistance to Farmers, Fisherfolk and Families (PAFFF) – that has visited 24 places all over the Philippines, granting more than P10 billion in government services and cash aid that benefited over 2.5 million Filipino families.
“Aside from the cash aid distributed in BPSFs, which will definitely boost the spending power of the people and stimulate the local economy, the services offered here like employment requirements help citizens get jobs or seek livelihood,” Speaker Romualdez said.
“Meron itong multiplier effect para sa ating bansa. When people have jobs and livelihood, it benefits not only the local economy but that of the whole country’s as well,” he added.
Speaker Romualdez said he hoped inflation would continue falling, or at least remain at the lower end of the government’s 2024 target of 2-4 percent.
The House leader said his chamber would contribute to the fulfillment of this wish by exercising its oversight power through the five-committee panel it has created to look into reports of smuggling, hoarding, price manipulation, and other practices in restraint of trade.
He said that the joint panel would also check on the enforcement of the recently signed Republic Act (RA) No. 12022, or the Anti-Agricultural Economic Sabotage Act.
