Gov’t cuts tariffs on cement, flour
MANILA, Philippines – The government will slash tariffs on cement and flour, to bring down the market prices of cement and baked goods, Malacañang announced Wednesday.
President Gloria Macapagal-Arroyo signed Executive Orders 766, which cut import duties on cement, and 765, which slashed import duties on flour, Trade Secretary Peter Favila said.
The tariff cuts are effective for six months. Arroyo signed the orders on November 7. They take effect 30 days after publication.
“This is part of government’s intervention to ensure prices at affordable levels,” Favila said at a news conference at the Palace.
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