President Ferdinand R. Marcos Jr. signs the amended Agricultural Tarrificatio Act, VAT Refund for Non-Resident Tourist Act and Basic Educational Mental Health and Well Being Promotion Act at Ceremonial Hall in Malacañang Palace Monday morning (Dec. 9, 2024). Witnessing the even are senators led by Senate President Chiz Escudero, House members led by Speaker Ferdinand Martin G. Romualdez and Cabinet members.
SPEAKER Ferdinand Martin G. Romualdez on Monday lauded the signing of the amended Agricultural Tariffication Act into law, describing it as a groundbreaking measure that strengthens the government’s capacity to ensure rice price stability, empower Filipino farmers and secure the nation’s food supply.
“This is a landmark legislation that directly addresses the most pressing concerns of ordinary Filipinos: rising rice prices, food security, and the welfare of our farmers. It underscores our collective commitment to building a stronger, more resilient Philippines,” said Speaker Romualdez, principal author of the law.
Speaker Romualdez credited President Ferdinand R. Marcos Jr. for his decisive leadership and genuine concern for the Filipino people, which he said were the driving forces behind the swift passage of this measure.
“Muling pinatunayan ni Pangulong Marcos ang kanyang malasakit sa bawat pamilyang Pilipino. Ang batas na ito ay isang matibay na hakbang upang tugunan ang isyu ng inflation, lalo na sa presyo ng bigas, na pangunahing pagkain sa bawat hapag-kainan,” Speaker Romualdez said.
The law strengthens the regulatory powers of the Department of Agriculture (DA) to combat hoarding, price manipulation and other market abuses that lead to price spikes. It also provides the DA with a P5-billion buffer fund for food security emergencies and extends the Rice Competitiveness Enhancement Fund (RCEF) until 2031, with an annual allocation of P30 billion to support farmers through mechanization, seed propagation and other agricultural programs.
“Malinaw ang mensahe ng Pangulo: walang Pilipinong dapat magutom o maghirap dahil sa mataas na presyo ng bigas. Ang batas na ito ay sagot sa matagal nang hiling ng ating mga magsasaka at mamimili,” he added.
The Speaker emphasized that the law is a direct response to concerns of ordinary Filipinos who struggle with rising food prices and economic challenges.
“This is a victory for every Filipino household. It ensures that rice remains affordable and accessible while empowering our farmers to be more competitive and productive,” Speaker Romualdez said.
The law also mandates the National Food Authority (NFA) to maintain rice buffer stocks sourced exclusively from local farmers, ensuring both food security and livelihood support for the agricultural sector.
“This measure shows that we can fight inflation and support our farmers at the same time. It reflects our commitment to making sure that no Filipino is left behind as we build a stronger, more equitable nation,” Speaker Romualdez added.
Speaker Romualdez commended President Marcos for his relentless focus on addressing the most critical issues facing Filipino families.
“Ang Pangulo ay tunay na kaagapay ng bawat Pilipino sa laban para sa abot-kayang presyo ng bilihin. Ang kanyang malasakit at masigasig na pamumuno ay nagbigay-daan sa batas na ito na magpapagaan ng buhay ng ating mga kababayan,” he said.
The Speaker also highlighted the President’s leadership in prioritizing food security as a cornerstone of his administration’s agenda.
“This law exemplifies the vision of President Marcos for a Bagong Pilipinas. It aligns with his goal of protecting the welfare of ordinary Filipinos while empowering key sectors like agriculture. His leadership inspires all of us in the House of Representatives to work even harder for meaningful reforms,” Speaker Romualdez said.
Speaker Romualdez expressed his gratitude to his colleagues in Congress and stakeholders for their hard work in crafting and passing the law.
“This is a shining example of what we can achieve when the Executive and Legislative branches work together for the welfare of the Filipino people. It proves that by prioritizing the needs of our countrymen, we can make a lasting impact,” Speaker Romualdez said.
He assured the public that the House of Representatives remains committed to enacting pro-people laws and supporting President Marcos’ vision for a stronger and more prosperous nation.
“Patuloy tayong magsusulong ng mga repormang magdadala ng kaginhawaan sa bawat Pilipino. Sama-sama nating itataguyod ang Bagong Pilipinas na pinangungunahan ng ating mahal na Pangulo,” Speaker Romualdez concluded.
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