MANILA, Philippines – As sugar prices continue to increase, the government said they will be importing sugar immediately in order to provide affordable sugar to consumers.
In an interview over the weekend, Trade Secretary Peter B. Favila said that the government will allow the importation of sugar with tax exemptions because of rising prices.
“People should be able to afford reasonably priced sugar,” Favila stressed. Favila said that the solution is for government to buy sugar from other government overseas.
This means that the government will be relaxing all taxes and tariff for sugar importation to make it more affordable to the public. Favila said that they have already coordinated with the Department of Finance (DOF) to facilitate the tax perks.
Favila said that they would like to buy cheaper sugar from other governments immediately in order to address the needs of the local consumers because prices are now going up. “We want to formalize this immediately,” Favila said.
Favila said that in under no circumstances will they give subsidies to local sugar manufacturers in order to drive the prices down. “I have all the measures to help consumers afford cheaper goods. They (sugar manufacturers) can sell all their local produce overseas if they want.”
The Sugar Regulatory Authority (SRA) has already said that they fear prices can reach to up to P50 per kilo. However, the suggested retail price (SRP) for sugar is only P43. Sugar is currently being sold for P48 per kilo.
Sugar prices in the country have been going up because of rising global demand, limited supply and weather disturbances.
Trade Undersecretary Zenaida C. Maglaya said that they have already received a proposal to increase the SRP to P44 to P45 per kilo. The adjustment in SRP has not yet been approved because the DTI is still waiting for an endorsement from Agriculture Secretary Arthur Yap.
Maglaya said that they can easily import cheaper sugar even if the world prices are increasing. She noted that they were able to do it with rice before wherein the government bought rice from the Vietnamese government.
“If we were able to do it before we can do it again,” she said. –Ma. Elisa P. Osorio (The Philippine Star)
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
