Philippines authorises the import of 5,000 MT pork
President Arroyo of the Philippines has authorised the importation of 5,000 metric tonnes (MT) of pork in the next two months to stabilise domestic prices and make the meat more affordable to the poor.
The Food Terminal Inc. (FTI) is authorised to import the meat “to ensure continuous access of the less fortunate sectors, especially those in depressed areas, to basic food items.”
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The agency was also directed to determine the volume of pork to be imported so that it would not exceed 5,000 MT.
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The FTI was also authorised to use its corporate funds, including government-guaranteed credit lines to finance the importation.
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All disbursements as well as administrative and operational expenses incurred during the importation shall be treated as a special projects account of FTI.
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The EO states that all pork importations to be made by FTI will be eligible to a tax expenditure subsidy scheme.
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