Cynthia Villar: No price hike on farm products under TRAIN
Senator Cynthia Villar on Friday reminded the public that agricultural products were not taxed under the new tax reform law amid reports that there are spikes in the price of rice in some areas.
“Unfortunately, there are businessmen who would take advantage of the situation and use the enactment of the Tax Reform for Acceleration and Inclusion (TRAIN) to justify price increases,” Villar said in a press statement.
Villar, chair of the Senate Committee on Agriculture and Food, asked the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) to activate their price monitoring teams to guard against unreasonable price increases.
“We don’t want these unreasonable increases to undermine the intended benefits of the law and we ask concerned government agencies to protect the consumers,” she added.
She also urged the DTI to ensure that the price tag requirement was strictly implemented in establishments all over the country.
She urged if local government units (LGUs) to ensure the stability of prices and to protect consumers from undue price increases.
The National Food Authority (NFA) earlier assured it would not increase the price of rice amid fears of the expected impact of the new tax system.
Consumers expressed concern that the prices of rice would also increase due to the hike in fuel prices, which will in turn affect transport of the product. (PNA)