Presidential Communications Operations Office



  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Wednesday, 26 June 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 
home
 
about
 
fotos
 
info
 
links
 
ncrr01carr02r03calmimr05r06r07r08r09r10r11r12r13
 << June 2019 >> 
S M T W T F S
1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30
Special News Editions:
English.Tagalog.Cebuano
Ilocano.Waray.Hiligaynon
Pangasinan.Other
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
English.Tagalog.Cebuano
Waray.Hiligaynon.Ilocano
Pangasinan.All
PIA Archive News Reader

PIA Press Release
2010/02/04

PGMA issues EO 857 for duty-free sugar imports

Tacloban City (February 4) -- In order to stabilize rising prices of sugar, President Gloria Macapagal Arroyo has issued Executive Order 857, scrapping tariffs on sugar imports until the end of 2010.

Under EO 857, President Arroyo said private importers and the National Food Authority won't have to pay the 38 percent duty on imported sugar or will enjoy "tax expenditure subsidy."

"The private sector and the NFA shall import sugar using the tax expenditure subsidy scheme of the NFA," stated the order which the President signed last January 29 but was only released on February 3.

The executive order tasks the NFA and the Agriculture Department to facilitate the scheme. It also asks the Trade, Budget and Justice departments, as well as the Office of the Government Corporate Counsel, to fully support the EO's enforcement.

The NFA, through its respective boards or council, will use its corporate funds, manpower and other facilities, government guaranteed credit lines and supplemental support, as it may deem necessary. The expenses incurred as a result of the executive fiat will be treated as regular operating expenses of the NFA.

Sugar Regulatory Administration (SRA) chief Rafael L. Coscolluela earlier said private entities would be invited to participate in a bidding to obtain import rights as soon as Malacaņang issues an executive order.

After obtaining the rights to import, private importers will look for suppliers on their own, he added. The guidelines also set a cap on industrial users so that everyone will be able to participate.

The executive order asks the Agriculture and Trade departments to determine the "reasonable volume" of sugar that should be imported.

SRA chief Rafael L. Coscolluela said the government had again pushed back the timing of sugar imports to the end of the milling season in response to sugar stakeholders' appeal.

He said the President met with sugar farmers and planters in Bacolod last February 3 and decided, in the absence of Agriculture Secretary Yap, to move the imports to May.

The imports are expected to bring down sugar price to P48 from its present retail price of P52 per kilo. (PIA 8) [top]

|«  prev  next  »|
DAILY NEWS LIST:
»NEDA signs MOA with Climate Change Commission
»R-XI to host RDC private sector reps national confab
»2nd Gawad LIDER nominations extended until February 15
»ICT brings "Make IT Davao" slogan
»PGMA in Davao to highlight cyber corridor at Damosa IT Park
»Mango congress seeks to save P400-M wastage
»DTI Palawan hosts "Go Negosyo" seminar
»New Palawan businesses invest P763 million in 2009
»Tagalog News: Disqualification case laban kay Mayor Hagedorn, ibinasura ng Comelec
»Region 8 observes World Cancer Day
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines