The government has already found the best solution to reduce rice prices in the market, President Ferdinand Marcos Jr. said.

On the sidelines of the aid distribution in Cagayan de Oro City, President Marcos said the bicameral committee came up with measures to address rice prices.

“I don’t want to preempt the bicameral committee, but I think we have found the solution already,” President Marcos said.

“The mechanism will be different from that which is proposed but, in the end, and net effect pareho pa rin, makakapag-import ang national government,” he added.

Asked if the proposed amendments to the Rice Tariffication Law will be certified as urgent, President Marcos responded in the affirmative.

President Marcos however said the House of Representatives and the Senate have found a solution to allow the government to import rice to eventually reduce rice prices.

“Pagka mataas ang presyo ng bigas, magbibitaw tayo ng bigas, magbebenta tayo ng mababa para sumunod ang merkado,” he said.

The President said he has yet to identify which agency will be allowed to import rice, pointing out that the bicameral committee will decide.

“Syempre, nakikipag-ugnayan tayo and I think we may have found the solution and nakikita natin that we will be immediately able to bring down the price of rice,” he said.

The Chief Executive led on Thursday the distribution of over PhP100 million in financial assistance to farmers and fisherfolk in Northern Mindanao affected by the El Niño phenomenon. PND