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Business > Top Business
Recto: NFA debt won't balloon with RTL changes
By Niña Myka Pauline Arceo
May 16, 2024 12:28 am

FINANCE Secretary Ralph Recto has given an assurance that the debt of the National Food Authority (NFA) will not increase with the proposed amendments to Republic Act (RA) 11203 or the Rice Tariffication Law (RTL).

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.

Finance Secretary Ralph Recto. Photo from Department of Finance

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