NEDA Secretary Arsenio Balisacan announced that the decision to remove the price ceiling on commonly purchased rice varieties will be made shortly.
He mentioned that the government is closely monitoring indicators to assist President Ferdinand “Bongbong” Marcos Jr. in making an informed decision.
Balisacan emphasized that the price caps, which have been enforced since September 5, will be lifted “very soon.” He explained that maintaining price caps for an extended period can lead to negative consequences that outweigh the benefits.
The price caps on rice, as specified in Executive Order 39, were set at P41 per kilo for regular milled rice and P45 per kilo for well-milled rice.
Balisacan mentioned that the lifting of the price control measure may occur next month, as the harvest season is expected to peak in October.
“October will be the peak of the harvest so we will be able to address the issue, remove the price cap,” he said.
Trade Secretary Alfredo Pascual added that the government is currently conducting a more in-depth study and monitoring the global price trends of rice.
“Further study ang ginagawa mahirap naman bigla bigla kang aaksyon. Binabantayan natin doon ‘yung movement of the world price of rice,” Pascual said.
Fake embassy advisor arrested in Ilocos – BI
An Indian man wanted for fraudulent activities was arrested by the Bureau of Immigration (BI) last September 26.
In a report to BI Commissioner Norman Tansingco, Fugitive Search Unit (FSU) Chief Rendel Ryan Sy identified the suspect as Prithes Das, 22, who was arrested in a restaurant in Bantay, Ilocos Norte.
The operation was conducted in coordination with the Philippine National Police (PNP) Foreign Intelligence and Liaison Division, Regional Intelligence Unit, Provincial Intelligence Unit of Ilocos Sur, and government intelligence units in Northern Luzon.
Das was found to be an overstaying and undesirable alien after being reported by his government for his crimes.
Indian authorities informed the BI that Das has been falsely representing himself as a Chief Advisor at the Embassy of India in Manila to deceive his victims in various fraudulent schemes.