FINANCE Secretary Ralph Recto has given an assurance that the debt of the National Food Authority will not increase with the proposed amendments to Republic Act 11203 or the Rice Tariffication Law .Recto told reporters on Tuesday that they are 'more or less' in favor of restoring the NFA's authority to import and sell rice to help reduce or stabilize prices of the staple but said that they do not expect NFA's debts to balloon.'We should not allow that.
Photo from Department of Finance Recto mentioned they are currently studying the proposal, noting that the RTL is generally effective but may need slight adjustments to allow NFA involvement during emergencies.'We're looking at it right now. So far, I think the RTL is working...maybe we can tweak it a bit to allow NFA for emergency purposes,' he said.'We want to reduce rice prices and I think global prices will be going down by September.
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