FFCCCII backs further lowering of rice tariffs

The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) is supporting a proposal to further reduce the import duties slapped on rice to help bring down the prices of the staple.

- LOUELLA DESIDERIO

In a statement, FFCCCII president Cecilio Pedro said the group is backing the proposal of Finance Secretary Ralph Recto to further lower the tariffs on rice below the current 35 percent until the end of the year.

Recto earlier said the proposal forms part of government measures to reduce rice prices by 20 percent by September this year.