Agriculture Secretary Francisco Tiu Laurel, Jr. has formed a technical working group (TWG) to draft the rules and regulations implementing Section 9 of the Price Act relating to agricultural products.
The Price Act, or Republic Act 7581, was enacted to stabilize the supply and prices of basic and prime commodities, safeguard consumers against unreasonable price hikes and ensure fair practices in markets. The Department of Agriculture is the lead agency tasked to stabilize the price of agricultural crops, fish and other marine products, fresh meat, fresh poultry, dairy products, fertilizers and other farm inputs during emergencies.
Special Order 18 issued by Laurel underscores Section 9 of RA 7581 providing a buffer fund for the procurement, purchase, importation or stockpiling of basic necessities or prime commodities, and determine ways to distribute them during shortages or for when there be a need to influence market prices.
Assistant Secretary for Policy Research and Development, Noel A. Padre, was designated head of the 8-member TWG. Assistant Secretary for Regulations, Paz Benavidez II, was named co-chairperson while director Jerome Bunyi, officer-in-charge for Policy Research Service, was appointed vice chairperson.
Laurel ordered the TWG to develop clear and concise set of rules implementing Section 9 of the Price Act, engage the Department of Trade and Industry and other government agencies in developing the IRR, consult with relevant stakeholders including consumer groups and market experts, and ensure the IRR hews to the legal framework under the law.
Personnel from the Policy Research Service, Office of the Assistant Secretary for Regulations (OASR) and the Agribusiness and Marketing Assistance Service (AMAS) form part of the TWG’s Secretariat and provide technical and administrative support to the group.
