FILE PHOTO: President Ferdinand Marcos, Jr. Photo from the official Facebook page of PCO
MANILA, Philippines 鈥� Stressing the need to shield both consumers and the agriculture sector from smuggling, hoarding, profiteering and cartel activities, President Ferdinand Marcos Jr. signed on Thursday Republic Act No. 12022 which penalizes such offenses as nonbailable acts of agricultural economic sabotage.
Aimed at protecting the agriculture sector and consumers, the Anti-Agricultural Economic Sabotage Act imposes harsher penalties of life imprisonment for those convicted of agricultural smuggling, hoarding, profiteering, and cartel activities, plus a fine five times the value of the involved agri-fisheries products.
Those knowingly transporting or storing smuggled products or allowing the use of ports, resorts, or airports in the commission of economic sabotage will face 20 to 30 years of imprisonment and a fine thrice the value of the involved agri-fisheries products.
After signing the measure into law, the President stressed that economic sabotage in agriculture was 鈥渘ot simply a tale of dubious deals and inflated profits; it manifests as well as hunger, desperation, and betrayal.鈥�