![]() “Price controls, when carefully calibrated and closely implemented, are effective in the near term,” he assured. ![]() 39 serve as a short-term measure against non-competitive practices by some market players,” Diokno said. We expect the rice harvest to commence soon and anticipate that other initiatives will produce the desired result,” the NEDA said.ĭiokno had also defended President Marcos' order, stating that EO 39 is intended to manage the upward pressures on rice prices. “We are confident that the imposition of a price ceiling is only a temporary measure. ![]() ![]() 3, the NEDA said the price ceilings for rice would be a temporary measure. However, he also acknowledged that the situation is not ideal and there are instances of hoarding here and there.) (But the President's justification is that, in an ideal market condition, price control wouldn't really work. “But parang justification naman ni Presidente is, kasi under ideal market conditon, hindi talaga mag wowork yung price control, pero sabi nya hindi naman talaga ideal, may mga hoarding here and there,” Diokno said. Imported commercial rice, on the other hand, was priced at P45 per kilo for well-milled and P43 per kilo for regular milled rice.ĭiokno said it was only upon their return to Manila that Balisacan had the opportunity to brief President Marcos about the potential impact of his price control measures. On the first day of implementation, local well-milled rice was being sold for prices ranging from P45 to P53 per kilo, while regular milled rice was priced between P41 and P52 per kilo. Rizaldy R Ferrer PHD is a Clinical Sa mga nagsabi na baka mag-absent kami ni. The EO has set price limits of P41 per kilo for regular milled rice and P45 per kilo for well-milled rice, while there are no limits in place for special and premium rice. That is because the government-enforced price does not match the actual market forces of supply and demand. Price ceilings are meant to ensure access to rice, but economists argued that they can actually make it harder to get the staple food. We cover all trending news on Entertainment, Local gossip, OFW and local people. “What?!” exclaimed the finance chief, recalling their initial reaction upon learning the president’s order.ĮO 39 has caused controversy because it goes against the law of supply and demand in economics. KAMI is a modern digital Filipino media platform. We were in the midst of discussions with the Japanese ministers when, to our surprise, the announcement came out) (Arsi and I were actually sitting next to each other. Nagulat nga kami, lumabas sa ano diba,” said Diokno, while pointng at his mobile phone. We were talking with the Japanese ministers. (We were really in Japan when it was announced. “Nasa Japan kami talaga when it was announced. Balisacan, Diokno recounted the moment they heard the news. Seated next to National Economic and Development Authority (NEDA) Secretary Arsenio M. 39, which set price ceilings on regular and well-milled rice starting Sept. Diokno disclosed that the economic managers were taken by surprise upon learning about Executive Order No. While in Tokyo for meetings with Japanese ministers, Finance Secretary Benjamin E. Buy BBM and SARA Kami PH 2022 BBM Sara 2022 President Red Bong Marcos Duterte Inday Throw Pillow, 18x18, Multicolor: Throw Pillows - FREE. Set-cookie: tv_group_edge=3 path=/ domain=. economic team of President Marcos was caught off guard when the announcement of a price ceiling on rice was made public on Aug. Set-Cookie: tv_group_edge=8 path=/ domain=. HTTP Headers HTTP/1.1 301 Moved PermanentlyĬache-Control: max-age=0, no-cache, no-store
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