Several business groups asked President Rodrigo Duterte to expedite the signing of the Rice Tarrification bill into law.
The American Chamber of Commerce of the Philippines, Bankers Association of the Philippines, Financial Executives Institute of the Philippines, Foundation for Economic Freedom, Judicial Reform Initiatives, Makati Business Club, Management Association of the Philippines, Philippine Investment Funds Association, and Semiconductors and Electronics Industries of the Philippines expressed support for the government reform measures.
“We strongly support ongoing efforts and measures of the administration to liberalize the economy and thereby unleash its full potential to ensure sustainable, robust and inclusive economic growth, while ensuring better quality of life for our people through affordable food,” they said in a statement.
The groups said the bill was intended to decisively and quickly address the rice supply disruption and concomitant high prices experienced last year.