Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Congress of the Philippines : Life imprisonment for rice hoarding and profiteering: Rodriguez

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/15/2012 | 04:48am CEST

Source: Public Relations and Information Bureau

Life imprisonment for rice hoarding and profiteering: Rodriguez

Send FeedBack
15 October 2012 10:15:56 AM
Writer: Dionisio P. Tubianosa, Media Relations Service

To ensure the nation's food security and prevent future artificial rice shortage, a lawmaker insists that the act of rice hoarding and profiteering be declared as a crime of economic sabotage.

"The State must ensure food security/sufficiency to meet the needs of the people and should penalize hoarding and profiteering especially in time of disasters and calamities," Cagayan de Oro City Rep. Rufus Rodriguez and Abante Mindanao Party-list Rep. Maximo Rodriguez, Jr. declared.

The Cagayan de Oro City lawmaker proposes under HB 2733, referred to and under consideration by the House Committee on Justice, that rice hoarding and profiteering be declared a crime of economic sabotage to be penalized by life imprisonment and a fine of P100,000.

As food staple, rice dominates the diet of roughly half the world's population, most of them poor, the authors noted.

"Ironically for us, the Philippines has 14 million hectares of agricultural lands, yet we still import rice. There were times we experienced rice shortage because of rising fuel prices, flooding due to climate change, development of farmlands for homes and even gold courses, reduced global stocks, rising affluence throughout Asia and Africa and pest outbreak in Vietnam, the world's second largest rice exporters after Thailand," they pointed out.

To aggravate the situation, Rodriguez said rice farmers and traders, taking advantage of the situation, are hoarding rice.

"It is just timely not to wait until another rice shortage hits the country, whether artificial or not, for government to move and act to prevent such food crisis affecting mostly poor families that can't afford the rising prices," the authors stressed.


Total views: 7

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
09:15pGLOBAL ECONOMY WEEK AHEAD : U.S. Jobs Report, Brazil GDP, Eurozone Inflation
DJ
09:03pNASDAQ OMX BALTIC NASDAQ OMX TALLINN : Assessment of Independence of Candidates for Membership in Supervisory Council of JSC Olainfarm
PU
08:52pDenmark expects slightly lower 2018 budget deficit in new forecast
RE
08:43pVICTORIA POLICE : Police seek witnesses to road rage incident
PU
05:13pECOWAS ECONOMIC COMMUNITY OF WEST AFRICAN STATES : Mediation policy documents launched in abuja
PU
05:13pISED INNOVATION SCIENCE AND ECONOMIC DEVELOPMEN : Minister Chagger celebrates the start of Tourism Week 2018 in Ottawa
PU
04:48pECOWAS ECONOMIC COMMUNITY OF WEST AFRICAN STATES : Trade ministers move to improve regional economic integration
PU
03:58pSNP SCOTTISH NATIONAL PARTY : Setting the world’s most ambitious climate change targets
PU
01:15pCHARLES SCHWAB : Can the Biggest U.S. Bitcoin Exchange Win Over Wall Street?
DJ
12:43pSAUDI ARAMCO SAUDI ARABIAN OIL : Awards Halliburton Contract for Unconventional Gas Stimulation Services
PU
Latest news "Economy & Forex"
Advertisement