DSWD: P15k aid for rice retailers could possibily be increased
MANILA, Philippines — The Department of Social Welfare and Development (DSWD) said that the P15,000 worth of assistance for rice retailers affected by the recent price ceilings on regular and well-milled rice might be increased soon.
Social Welfare Secretary Rex Gatchalian on Saturday floated the idea after President Ferdinand "Bongbong" Marcos Jr. imposed a P41 per kilo and P45 per kilo cap on two types of rice varieties — a move done to supposedly control recent spikes on the staple food's market prices.
"We got to talk to the president. He instructed the [Department of Trade and Industry] and DSWD to calibrate and check the financial assistance. If it is not enough, it should be increased," said Gatchalian in Filipino in an interview with GTV.
"For the president, it is important that the MSMEs be assisted. We know they have made sacrifices during this time so the government wants to help them. We know that although they are traders, they are small traders."
The government started to distribute cash assistance on Saturday for small rice retailers in various areas such as Quezon City, San Juan City and Caloocan City.
Certain rice retailers earlier complained of losing around P7,000 a day due to the ceiling imposed by Marcos' Executive Order 39. The Philippine Rice Industry Stakeholders Movement claimed that a retailer could lose at least P49,000 in just a week due to the cap.
The DTI earlier said that the price ceiling might last up to one month as rice prices stabilize. Retailers, however, committed to comply with EO 39 for a week but might stop if they cannot handle the losses.
Rice prices went up and price ceiling was implemented as overall food costs caused inflation to a much faster pace at 5.3% in August.
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