00:00The president may now proceed to sign the enrolled copy.
00:04Upon signing of the harmonized version of Senate Bill No. 2432 and House Bill No. 3917,
00:11it shall be known as Republic Act No. 12002,
00:15entitled, An Act Defining the Crimes of Agricultural Economic Sabotage,
00:20prescribing penalties, therefore, vesting jurisdiction over such offenses
00:25with the Court of Tax Appeals, providing mechanisms for its implementation and enforcement,
00:31repelling for the purpose of Republic Act No. 10845 of the Anti-Agricultural Smuggling Act of 2016.
00:40This measure protects farmers, fisherfolks, and consumers
00:45from unscrupulous traders, importers, and other economic saboteurs
00:50by preventing and imposing stiff penalties against smuggling, hoarding, profiteering,
00:56and cartels that unduly restrain supply and manipulate prices.
01:01Thank you, Mr. President.
01:04But today marks a turning point.
01:07The passage of the Anti-Agricultural Economic Sabotage Act will set in motion transformative outcomes.
01:14It is a proactive measure to prevent the entry of smuggled agricultural products
01:19ensuring that the correct duties and taxes are paid while imposing higher penalties on violators.
01:27This law shapes a stronger, more resilient agricultural sector
01:31that defends both our farmers and our consumers.
01:35It also safeguards the public health by preventing the consumption or industrial processing
01:42of agricultural products that lack the necessary sanitary and phytosanitary permits.
01:48It ensures that what ends up on the tables of every Filipino family are safe and of the highest quality.
01:55Under this law, smuggling, hoarding, profiteering, and cartel operations
02:01involving agricultural and fishery products will now be classified as economic sabotage,
02:08a non-bailable offense punishable by life imprisonment
02:12and fines up to five times the value of the goods involved.
02:17Applause
02:25And let me be clear.
02:27This law does not just target the masterminds.
02:31It holds all accomplices accountable.
02:34Financiers, brokers, employees, even transporters.
02:38We are establishing the Anti-Agricultural Economic Sabotage Council, which I will chair,
02:44alongside the secretaries of agriculture, finance, transportation, trade and industry,
02:49and interior and local government, and justice, and other key officials.
02:54We will enforce the law and ensure that swift and decisive action is taken
03:00against anyone who dares to sabotage our agricultural sector.
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