About 25,000 retailers in Metro Manila alone may receive assistance from the government amid the implementation of rice price ceilings.
Department of Trade and Industry Assistant Secretary Agaton Teodoro Uvero said that aside from market monitoring, the DTI and the Department of Social Welfare and Development (DSWD) will focus on launching financial assistance for retailers who will be affected by the price limits in the regular and well-milled rice.
Uvero said, what is being discussed is P15,000 per retailer, and they will try to give it to all legitimate retailers affected by the rice price cap.
The government agencies are targeting to start distributing financial aid within this week.
Signed by President Ferdinand R. Marcos Jr. the Executive Order (EO) No. 39 that sets price ceilings amid rising rice prices despite adequate supply of the commodity in the domestic market.
Uvero added that the increase in the price of rice this season is different compared to previous years, so it was necessary to have a price cap.
DTI Secretary Alfredo Pascual first said that his department is closely monitoring the situation of the implemented price ceiling in the country.
