Gov’t crafts rules on buffer fund for agri goods stockpile
The implementing rules and regulations (IRR) for a provision of the Price Act, which allows the Department of Agriculture (DA) to store commodities when there is a supply glut in some areas and make these available in other areas, is being crafted as part of efforts to ensure stable prices.
The DA, through Special Order No. 18 dated Jan. 5, has created a technical working group (TWG) that will prepare the IRR on the allocation of a buffer fund as one of the agencies tasked to implement the law.The TWG is responsible for developing a clear and concise set of implementing guidelines that translate the particular provision of the price law or Republic Act No. 7581 of 1992, into actionable rules.
The TWG is tasked to consult with industry representatives, consumer groups and experts to get insights, address their concerns and build on their perspectives.
The Department of Trade and Industry as well as other concerned government agencies will be tapped to come up with the IRR.
The Price Act appoints DA [in this case, the DA] as the implementing agency to ensure reasonable prices of basic necessity or prime commodities such as agricultural crops, fish and other marine products, fresh meat, fresh poultry and dairy products, fertilizers and other farm inputs.“The implementing agency may procure, purchase, import, or stockpile any basic necessity or prime commodity, devise ways and means of distributing them for sale at reasonable prices in areas where there is shortage of supply or a need to effect changes in its prevailing price,” Section 9 of the law states. INQ
