THE National Food Authority (NFA) Council approved on Monday the proposal to implement a tariffied regime for rice imports starting on March 3 to further slash rice prices and bring down living costs, the Department of Finance said.

“Our objective in liberalizing rice imports is to bring down the costs of the staple. Our price is 50 percent higher than the others, including Singapore, which does not produce rice. Will it take us 180 days to effect a reduction in the cost of living our the people?” Finance Secretary Carlos Dominguez 3rd, who presided over the NFA meeting was quoted as saying.

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