MANILA, Philippines - The Department of Trade and Industry (DTI) has recommended to President Aquino the extension by six more months of the duty-free importation of wheat and cement that former President Arroyo imposed last February.
“The technical committee on tariff related matters is recommending the extension of the zero percent tariff, and they will fast track the process in the Cabinet,” he told Palace reporters in a briefing at Malacañang yesterday.
Domingo said the executive order on this might be forthcoming when Congress takes a break late this month (October), in time for the observance of All Saints and All Souls Day in the first week of November.
Cement had been included in this recommendation, he said in a separate interview.
Last February, former president and now Pampanga Rep. Arroyo approved a proposal from former DTI Secretary Peter Favila to extend the duty-free importation of wheat and cement, in an effort to stabilize domestic prices of the two commodities.
Without the exemption, importers are required to pay a three-percent tariff if they are purchasing from member-countries of the Association of Southeast Asian Nations and five percent if they buy elsewhere.
The extension of zero tariffs during Arroyo’s time was implemented retroactively.