DA forms TWG to draft implementing rules on stabilizing agri products' prices

The Department of Agriculture (DA) said Tuesday it has formed a Technical Working Group (TWG) that will draft the rules and regulations to implement a section of the Price Act concerning agricultural products.

In a statement, the DA said Agriculture Secretary Francisco Tiu Laurel Jr. issued Special Order No. 8 creating a TWG to prepare the IRR for Section 9 of the Price Act.

Section 9 of RA 7581 or the Price Act provides the allocation of a buffer fund for the procurement, purchase, importation or stockpiling of basic necessities or prime commodities, and determine ways to distribute these items during times of shortages or if there is a need to influence market prices.

The Price Act, meanwhile, aims to stabilize the supply and prices of basic necessities and prime commodities to safeguard consumers against unreasonable price hikes and ensure fair practices within the market.

The law identifies the DA as the lead agency tasked to stabilize prices of agricultural crops, fish and other marine products, fresh meat, fresh poultry, dairy products, fertilizers and other farm inputs during emergencies.

The Agriculture Department said DA Assistant Secretary for Policy Research and Development Noel Padre was designated as head of the eight-member TWG.

Assistant Secretary for Regulations Atty. Paz Benavidez II was named co-chairperson while director Jerome Bunyi, Officer-in-charge for Policy Research Service, was appointed vice chairperson.

The DA said Laurel ordered the TWG “to develop a clear and concise set of rules to implement Section 9 of the Price Act, engage the Department of Trade and Industry and other government agencies in developing the IRR, consult with relevant stakeholders including consumer groups and market experts, and ensure the IRR hews to the legal framework under the Price Act.”

Personnel from the Policy Research Service, Office of the Assistant Secretary for Regulations (OASR) and the Agribusiness and Marketing Assistance Service (AMAS) shall form part of the TWG’s Secretariat and provide technical and administrative support to the group, the DA said. — RSJ, GMA Integrated News