Distribution of P15K aid for price cap-affected rice retailers eyed this week

The P15,000 financial assistance is targeted to be distributed to qualified rice retailers affected by the price cap on regular and well-milled rice varieties before the end of the week, an official of the Department of Trade and Industry (DTI) said Wednesday.

Interviewed on PTV’s Public Briefing, DTI Assistant Secretary Agaton Uvero said the DTI is currently validating its list of small rice retailers who are eligible to receive cash aid.

Uvero said in Metro Manila alone, there are more or less 25,000 retailers on DTI’s list.

“Target namin bago matapos ang linggo ay magsisimula na ng distribution ang DSWD (Department of Social Welfare and Development) ng financial assistance,” Uvero said.

(Our target is that before the weekend the DSWD will begin its distribution of the financial assistance.)

DSWD Secretary Secretary Rex Gatchalian on Tuesday said small retailers affected by the rice price cap may receive P15,000 financial assistance under the agency’s Sustainable Livelihood Program.

On the other hand, the DTI and the Department of Agriculture (DA) will come up with a mechanism and a list of beneficiaries for the aid.

Uvero said the DTI will validate if the retailers indeed sold their rice stocks at a loss or much lower than how much they bought their stocks for retail amid the government-mandated price ceiling on regular and well-milled rice varieties.

The mandated price ceiling for regular milled rice is P41 per kilo while the mandated price cap for well-milled rice is P45 per kilo, according to Executive Order 39.

President Ferdinand "Bongbong" Marcos Jr.'s approval of the price ceiling stemmed from the surge in retail prices of rice in local markets, which ranged from P45 to P70 per kilo.

Marcos said Monday that the mandatory price ceiling on rice would only be temporary. He also said the government has a plan for rice retailers who would be adversely affected by the price ceiling.

The price ceiling on rice took effect on Tuesday, September 5. —KBK, GMA Integrated News