Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Study ordered on feasibility of expanding P20 rice coverage to 50% of population

PHILIPPINE STAR/NOEL B. PABALATE

SPEAKER Ferdinand Martin G. Romualdez directed a congressional think-tank to assess the feasibility of making the Marcos administration’s P20-per-kilo rice program available to half the population, with the study to evaluate the program’s fiscal requirements and the legislative means to move it forward.

The Congressional Policy and Budget Research Department was tasked with producing a report within 60 days, to guide legislators during budget hearings set later this year, Mr. Romualdez said.

“This study will not be limited to subsidy calculations. We need to overhaul the entire system — from seed to store shelf,” he said in a statement.

The government in early May started selling P20-per-kilo rice in some state-subsidized mini-markets, and plans to continue retailing the subsidized rice to low-income families and other disadvantaged categories until December.

President Ferdinand R. Marcos, Jr. campaigned in 2022 on a pledge to lower rice prices to P20 per kilo, but the early years of his administration have been marked by a surge in the cost of rice.

“If it can be done in some areas, it should be achievable nationwide,” Mr. Romualdez said. “It is now our job in Congress to support that vision with data, strategy and decisive legislation.”

The Speaker last month pledged to allocate funding for the rice subsidy program in the 2026 budget.

Mr. Romualdez said the program could cost the government about P51.1 billion annually, leading him to propose a four-year “phase-in plan” to ensure its sustainability.

“In 2025, the program will cover only the bottom 20% of the population, requiring about P17 billion. In 2026, it will expand to the bottom 35%, costing P30 billion,” he said.

“By 2027, it could reach the bottom 50%, with the full P51 billion requirement,” he added, saying that authorities should look at optimizing the system and integrating it with other food aid programs by 2028. — Kenneth Christiane L. Basilio

    You May Also Like

    Stock Markets

    PHILIPPINE President Ferdinand R. Marcos, Jr. met with Laos Prime Minister Sonexay Siphandone on May 26 as part of the 46th ASEAN Summit and...

    Stock Markets

    1 of 3 CHINESE AUTO giant Geely Auto recently arranged an international media tour predicated on the Auto Shanghai 2025. In a release, the...

    Finance

    Electric vehicle (EV) sales in the UK continued to surge in April, with battery electric cars claiming more than one in five new registrations,...

    Finance

    Tesla has encountered legal headwinds in its push to trademark the terms “Robotaxi” and “Cybercab”, dealing a blow to the company’s highly anticipated autonomous...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.