Read this in The Manila Times digital edition.
ON the heels of the government's imposition of a retail price ceiling on rice, the Department of Finance (DoF) has proposed a temporary reduction in tariffs on imported rice, from the 35 percent that applies to most imported rice to "zero, or at most 10 percent," according to Finance Secretary Benjamin Diokno. The suggestion is, as they say, a no-brainer; tariffs and subsidies, which is what the price ceiling actually is, work against each other.
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