Live Breaking News & Updates on Specially Fuel Subsidies And Inputs In Production

(PNA file photo) MANILA-A party-list lawmaker on Saturday said the government should consider providing rice subsidy of 10 to 50 kilos for poor to middle-income households as the depreciation of the Philippine peso could lead to higher prices of goods and services and overall inflation. In a statement, Bagong Henerasyon Party-list Representative Bernadette Herrera said local fuel prices will rise further because it now takes more pesos to import foreign oil. "All the economic agencies must prepare for another surge of inflation because of the weakening of the peso. Hopefully, the weakening is only temporary like when the forex (foreign exchange) was at PHP54 to USD1.00 in September to October 2018," Herrera said. "Economic forecasts indicate we will have high inflation for many more months until the inflation pressures have subsided." Last Friday, the peso depreciated further to 54.985 against the greenback from its 54.7 close a day ago. Aside from rice subsidies, H ....

Tayabas Bay , Bernadette Herrera , Reynan Arrogancia , Department Of Transportation , Energy Regulatory Commission , Department Of Tourism , Quezon Rep , Na File Photo Manilaa Party List Lawmaker On Saturday Said The Government Should Consider Providing Rice Subsidy Of 10 To 50 Kilos For Poor Middle Income Households As Depreciation Philippine Peso Could Lead Higher Prices Goods And Services Overall Inflation Ina Statement , Agong Henerasyon Party List Representative Bernadette Herrera Said Local Fuel Prices Will Rise Further Because It Now Takes More Pesos To Import Foreign Oil Quot All The Economic Agencies Must Prepare For Another Surge Of Inflation Weakening Peso Hopefully , He Weakening Is Only Temporary Like When The Forex Foreign Exchange Was At Php54 To Usd1 00 In September October 2018 , Uot Herrera Said Quot Economic Forecasts Indicate We Will Have High Inflation For Many More Months Until The Pressures Subsided Last Friday , He Peso Depreciated Further To 54 985 Against The Greenback From Its 7 Closea Day Ago Aside Rice Subsidies , Errera Said There Should Be More Subsidies For Rice Farmers , Livestock Raisers , Nd Vegetable Growers , Specially Fuel Subsidies And Inputs In Production , Nd Marketing Quot The Economic Managers Must Act Fast They Should Also Be Ready For Impact Of Monsoon Flooding , Nd Other Disasters Inventories Of Rice And Relief Goods Must Be Adequate Prepositioned , Uot She Said Herrera Upward Pressure Is Also Expected On Electricity , Nd Telecoms Rates Because Of Added Foreign Exchange Adjustment Costs Quot Most Important Now Is To Keep Food And Utility Prices Low Or Stable Rice , Nd Corn Supplies Must Be Enough To Meet The Consumption Needs Of Households And Production Animal Feeds Makers Livestock Raisers , Uot She Said Herrera Also Urged The Energy Regulatory Commission , Wholesale Electricity Spot Market , Nd Water Regulatory Agencies To Decide On Any Pending Petitions And Cases Involving Refunds Rebates For His Part , Uezon Rep Elect Reynan Arrogancia Said The Weakening Of Peso Isa Quot Good Boost For Dollar Earning Tourism Enterprises And Will Ease Some Pain From Elevated Inflation High Fuel Prices Department Should Help Promote Less Famous Tourist Destinations Where Tourists 39 Dollars Have More Impact Than Expensive But Attractions Places Like Beaches Quezon Facing Tayabas Bay Would Gain Froma Exchange Rate To When Foreign Balikbayans Come , Uot Arrogancia Said Quot Tourism Is Experiencinga Resurgence Now That The Country Has Relaxed Travel Restrictions And Covid Coronavirus Disease Spread Low He Noted Shuttle Operators Should Also Be Included In Provision Of Fuel Subsidies ,