Duterte issues AO on Local Government Reform Project
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Insurance industry grows by 2 83% to P1 79T as of Q3 2020 —IC
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(MANILA BULLETIN File photo/Keith Bacongco)
At the Senate Committee of the Whole’s hearing on the impact of the Executive Order No. 128 on the local hog industry, Drilon raised the possibility of the Senate and the Department of Finance (DOF) arriving at a compromise by adjusting the MAV but maintaining the tariff similar to what the government achieved when rice importation was subjected to tax.
The minority leader pointed out that when rice importation was tariffed, quantitative restriction was removed but tariff rates were maintained and eventually succeeded in lowering rice prices in the country by 20 percent.
He told Finance Secretary Carlos Dominguez III that he believes the same can be applied on pork importation.