00:00How can a law that amends the Rice Tariffication Law, which is far from being more productive and profitable for our countrymen to grow,
00:09is just a lie that President Ferdinand R. Marcos, Jr. is waiting for?
00:13Daniel Manalas was at the center of the news.
00:18How can a law that amends the Rice Tariffication Law, which is far from being more profitable for our countrymen to grow,
00:23After the ratification of the two constitutions of the Congress,
00:26the Bicameral Conference Committee reported on Senate Bill 2779 and House Bill No. 10381.
00:34Senator Cynthia Villar stood in the Senate plenary last night to repeat the successful agreement of the Bicam.
00:41I am pleased to report on the successful outcome of the Bicameral Conference.
00:47The Bicameral Conference agreed to adopt the Senate version as the working draft of the discussion.
00:54The Chamber and our country thanks as well, Senator Villar, for your hard work in the passage of this measure.
01:01In the Senate version, rice will be allowed to be imported if there is no locally produced rice available.
01:06The Agriculture Secretary will be authorized to appoint an importing entity to the DA, but the NFA is not included.
01:15Under the Rice Competitiveness Enhancement Fund or RCEF,
01:19the annual appropriation will increase from Php 10 billion to Php 30 billion by 2031.
01:27Implementing agencies will also use it.
01:29The RCEF also expects to use it for rice-producing areas such as rice farm machineries
01:36that can help our countrymen to grow rice.
01:39The Financial Assistance for them is also expected under the bill.
01:44Aside from that, the Expanded Rice Credit Assistance is also for farmers
01:48who have minimal interest rates and minimum collateral requirements.
01:52Aside from loans, there will also be a loan for rice training and extension services of more than Php 2 billion.
01:59In the end, it is still in the hands of the President as to what he will be in terms of amendment to the Rice Clarification Law.
02:06Daniel Manalastas for Pangbansang TV in Bagong, Philippines.
