Philstar.com
September 27, 2024 | 11:00am
MANILA, Philippines – Filipino consumers are the “biggest winners” of the recently enacted Anti-Agricultural Economic Sabotage Act, a lawmaker said Friday.
In a statement, Quezon City Rep. Arjo Atayde said that the new law, signed by President Ferdinand Marcos Jr. on Thursday, will “protect consumers from unjust price hikes.”
“Halos kalahati ng budget ng isang pamilya napupunta sa pagkain, kaya pag may mga biglang sipa ng presyo ng basic goods tulad ng bigas, matindi ang epekto nito,” he said.
“Nakikita naman natin sa mga survey. The soaring prices of goods is almost always the top concern. Ganun din sa distrito namin, kaya talagang tinutukan natin ang batas na ito dahil pag tumataas presyo ng pagkain, umaaray talaga ang mga kababayan natin, lalo na ang mga mahihirap,” he added.
The new measure treats the smuggling and hoarding of agricultural food products as “economic sabotage” when the value of goods exceeds P10 milion.
Creating cartels and financing smugglers and hoarders will likewise be considered economic sabotage.
It will establish a daily price index, as well as introduce registration requirements for businesses dealing with agricultural goods and establish an Anti-Agricultural Economic Sabotage Council led by the President.
“This law will help government efforts to combat price manipulation, to ensure fair market practices, and to keep food prices at a reasonable level. This will benefit Filipino households by allowing them to set aside more of their income for other essentials like education, healthcare, and utilities,” he said.
“With proper implementation, the Anti-Agricultural Economic Sabotage Act will serve as a strong deterrent against these illegal activities that lead to undue price increases. It is a significant step in protecting the public from unscrupulous individuals who seek profits at the expense of our people. This is a victory for Filipino families, a win for every Filipino consumer who deserves fair prices.”
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