BY JOCELYN MONTEMAYOR
PRESIDENT Arroyo has rejected proposals to
cut the tariff on imported rice, saying this is an impractical
move that would only end up reducing national government
revenue.
Arroyo, in a briefing with the Philippine
media in Hong Kong Monday, said that according to her economic
managers who discussed the tariff cuts on rice importation,
"even if you cut tariff, the price is so high in the world
market."
Figures from the finance department showed
the Bureau of Customs could lose up to P5.7 billion in revenues
if the rice import tariff were to be halved.