'Anti-Agri sabotage act a win for consumers'

FILIPINO households who allocate almost half of their budget for food will benefit from the enactment of the Anti-Agricultural Economic Sabotage Act, Quezon City 1st District Rep. Juan Carlos Atayde said. Atayde, one of the principal authors of the law, said consumers are going to be the biggest winners in the new law, since it targets economic saboteurs such as hoarders, price manipulators and smugglers. Atayde said any spike in the price of basic goods like rice affects consumers. According to the Philippine Statistics Authority (PSA), a typical Filipino household spends around 41.5 percent of its monthly income on food. When food prices go up, they put a significant strain on ordinary consumers, Atayde said. He said the law will help the government combat price manipulation to ensure fair market practices and to keep food prices at reasonable levels. "This will benefit Filipino households by allowing them to set aside more of their income for other essentials like education, health care and utilities," Atayde said. The law will introduce stiffer penalties, including life imprisonment and a fine five times the value of the agricultural and fishery products involved. The Anti-Agricultural Economic Sabotage Act will serve as a "strong deterrent" to illegal activities that lead to undue price increases, Atayde said. "It is a significant step in protecting the public from unscrupulous individuals who seek profits at the expense of our people. This is a victory for Filipino families, a win for every Filipino consumer who deserves fair prices," he added.