THE government has lost a cumulative P200 billion in revenues due to the National Food Authority’s (NFA) monopoly of rice importation, the Trade secretary said.
“We end up selling at a loss—a cumulative P200 billion because by the time the imported rice comes in, prices have already gone down,” Trade Secretary Ramon Lopez said on Monday during the 18th Regional Comprehensive Economic Partnership (RCEP) Trade Negotiating Committee (TNC) Meeting and Related Meetings.
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