Stiffer penalties for rice and corn hoarding, profiteering sought

FILE PHOTO

MANILA — A lady lawmaker wants stiffer penalties for rice or corn hoarders and profiteers by amending Republic Act 7581 (Price Act).

Rep. Susan Yap (2nd District, Tarlac) introduced House Bill 4677 which also declares as economic sabotage both rice and corn hoarding and profiteering during calamities or emergencies.

“In order to protect the poor who are disproportionately affected by calamities, the bill shall amend the Price Act and address the identified policy gaps,” Yap said.

The measure punishes rice or corn hoarders or profiteers with imprisonment of not more than 20 years and a fine of not more than Php5 million.

When rice or corn hoarding and profiteering are committed during any calamity, disaster or emergency declared by the President, the act shall be deemed equivalent to economic sabotage and punishable by ‘reclusion perpetua’ and criminal liability shall be attached to the president, chief operating officer or manager of the company concerned.

The hoarded rice or corn shall be confiscated and forfeited in favor of government.

Under the measure, an Anti Rice or Corn Hoarding and Profiteering Task Force shall be established in every province, city and municipality to monitor inventory level of all rice or corn mills, warehouses and stock houses to determine respective monthly stocks of rice or corn.

An inventory report of every monitoring activity shall be rendered by the task force to the implementing agency concerned not later than ten days from its conclusion.

Refusal to allow the task force or its duly authorized representatives to conduct monitoring activity in an establishment shall be ‘prima facie’ evidence of the act of rice or corn hoarding and profiteering being perpetrated.

The task force shall be composed of the local chief executive of the LGU concerned as chairperson, one representative from the provincial, city field, branch office of the implementing agency concerned, one representative from the farmer’s sector, one representative from the local consumers’ group and the local chief of police as members.

The owner, operator or management of every rice or corn mill, warehouse or stock house is required to submit to the task force a duly certified and sworn monthly report of its inventory of rice or corn stocks.