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The Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) is considering extending the temporarily lowered tariffs on agricultural products in an effort to reduce inflation to acceptable levels, according to Finance Secretary Benjamin Diokno. The IAC-IMO, which focuses on both food and non-food inflation, is discussing the possibility of extending the provisions of Executive Order No. 10 beyond its current expiration date of Dec. 31, 2023…
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Pending petition
In addition to agricultural products, there is a pending petition to further decrease tariffs on rice. The Tariff Commission is currently reviewing the petition, which seeks to reduce rice tariffs to zero or no more than 10 percent.
Various agri-business groups, including the Federation of Free Farmers, Kilusang Magbubukid ng Pilipinas, Agricultural Sector Alliance of the Philippines, Aniban ng mga Manggagawa sa Agrikultura, and United Broiler Raisers Association, have urged President Marcos to reject the proposed executive order on lowering tariffs, citing concerns about increased imports and smuggling.
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