PRESIDENT Marcos Jr. has approved the extension of reduced tariff rates for key commodities such as rice, corn, and pork, until December 31, 2024 amid continuing global challenges such as high prices and limited supply of some basic products, Planning Secretary Arsenio Balisacan announced yesterday.
Balisacan, in a briefing after the 12th National Economic and Development Authority (NEDA) Board meeting held in Malacañang, said the President approved the draft executive order on the temporary extension of the Most Favored Nation (MFN) tariff rates on certain commodities covered under Executive Order No. 10, series of 2022 until the end of next year.
He said this means that the tariff rates for pork will remain at 15 percent in-quota and 25 percent out-quota, corn at five percent in-quota and 15 percent out-quota, and rice at 35 percent both in-quota and out-quota during the extended period.
The NEDA Board, which is chaired by the President, also approved the recommendations of the Committee on Tariff and Related Matters to modify the review period for the tariff rate on pork, corn, and rice to twice a year, and the tariff on coal to annually or once a year.
“The proposed extension of reduced tariffs will help ensure an adequate supply of agricultural commodities and maintain stable and affordable prices, thereby better managing potential inflationary pressures,” Balisacan said.
“We will also be able to encourage alternative supply to diversify the country’s market sources and establish a forward-looking trade policy that will allow effective and timely response for possible supply and price shocks brought about by major challenges,” he added.
Balisacan said challenges affecting prices of commodities include the worsening African Swine Fever (ASF), shortages in corn and rice productions that lead to more importation, the anticipated impact of the El Niño phenomenon, and continuous increases in commodity prices in the world market.
GAME CHANGING PROJECTS
Balisacan said the President has also approved the construction of an alternative 23-kilometer, four-lane road to bypass the Dalton Pass in Central Luzon, which he said has been closed several times due to calamities.
The P67.4 billion project, which is expected to be completed by 2031, will facilitate the seamless transport of people and the delivery of essential goods and services within the region.
The NEDA Board also approved four high-impact projects, plans, and policies under the
second phase of the Master Plan on High Standard Highway (HSH) Network Development, which includes 53 projects that will be implemented in the short-term and to be completed by 2030, medium-term projects that will start construction in 2030 and be completed by 2035, and long-term projects that will start construction in 2035 and be completed by 2045.
“These projects will support connectivity for economic growth and development, efficiency in reducing traffic congestion, environmental sustainability and social acceptability,” Balisacan said without naming any of the projects.
Also approved was the eight-point action agenda of the Department of Health’s Medium-Term Strategy for the Health Sector from 2023 to 2028.
The medium-term strategy, which aligns with the Philippine Development Plan (PDP) and the Universal Health Care Program, contains priority strategies for the health sector that are divided into three major parts, which are: dedicated for every Filipino, every community, and every health worker and institution in the country.
The medium-term strategy takes into consideration current health outcomes, lessons that can help improve the health system as exposed by the coronavirus disease (COVID)-19 pandemic, and the implementation of the Mandanas-Garcia ruling on the local government’s s tariff shares.
Balisacan said that during the meeting, the Board was also updated on the status of some public-private partnership projects (PPPs), such as the University of the Philippines-Philippine General Hospital (UP-PGH) Cancer Center Public-Private Partnership Project which is currently undergoing procurement in accordance with the Build-Operate-and-Transfer (BOT) law.
Other updates were also given on the following projects: the Tarlac-Pangasinan-La Union Expressway (TPLEX) extension project that is currently undergoing a Swiss challenge; the solicited proposal to rehabilitate, operate, expand, and transfer (ROET) the Ninoy Aquino International Airport (NAIA) PPP Project, the deadline for bids submission of which is set on December 27; the upgrade, expansion, operation, and maintenance of the Laguindingan International Airport, the awarding of the contract of which is expected to take place between May 2024 and February 2025; the Dialysis Center PPP project for the Renal Center Facility of the Baguio General Hospital and Medical Center with the bidding for the project set before the year ends; and, the upgrade, expansion, operation and maintenance of the Bohol-Panglao International Airport, the contract award of which is expected to take place between August 2024 and May 2025.
“As we conclude this year, we are committed to sustaining our efforts to place vital programs and projects that will enhance connectivity, generate high-quality employment through investments, and significantly improve the living standards for every Filipino,” Balisacan said.
