MANILA, Philippines 鈥� House Speaker Ferdinand Martin Romualdez on Friday said it was 鈥渢imely and necessary鈥� for President Ferdinand 鈥淏ongbong鈥� Marcos Jr. to order a price cap on rice.
鈥淲e, in the House of Representatives, stand firmly behind President Ferdinand R. Marcos Jr.鈥檚 decisive action to ensure every Filipino鈥檚 access to affordable rice,鈥� Romualdez said in a statement.
鈥淭he imposition of price ceilings on this staple food is a timely and necessary intervention to shield our fellow countrymen from the undue economic burden caused by unwarranted surges in rice prices,鈥� he added.
The price ceiling for regular milled rice is set at P41 per kilogram, while the price cap for well-milled rice is P45 per kilogram.
This mandate covers the whole country.
In a bid to assist in alleviating the soaring prices, Romualdez also said the House is determined to intensify its comprehensive investigation into the alleged hoarding and price manipulation not only of rice but also of other basic agricultural and food products.
鈥淏y collaborating closely with the executive branch, we aim to strengthen systems and mechanisms that uphold consumer welfare, ensure fair market competition, and eliminate unscrupulous practices that harm our economy and, most importantly, our people,鈥� Romualdez said.
鈥淭ogether, we remain committed to a vision of a Philippines where every family has access to affordable and nutritious food,鈥� he added.
Romualdez also noted that it is the legislators鈥� duty to ensure 鈥渁 steady, stable, and affordable鈥� supply of rice.
鈥淲e deeply understand and empathize with the plight of our people, especially the underprivileged and marginalized who are most affected by the surge in rice prices,鈥� Romualdez said.
鈥淲e believe it is our duty to ensure a steady, stable, and affordable supply of these essential commodities for the Filipino people,鈥� he added. 鈥淭he welfare of our constituents remains our top priority, and we pledge to exercise our mandate to safeguard their interests to the fullest.鈥�
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