By CARD MRI Publishing House Inc.
March 13, 2019
SAN PABLO CITY – Implications of the financial reforms of the government were critically addressed by the Department of Finance (DOF) through Undersecretary Karl Kendrick Chua during the forum on financial reform agenda of President Duterte for poverty eradication organized by CARD Mutually Reinforcing Institutions (CARD MRI) on February 28, 2019 in San Pablo City.
According to CARD MRI Managing Director Flordeliza L. Sarmiento, the forum aims to foster better understanding on the financial reform agenda of the government. “This forum is also our way of supporting the efforts of the government and the Department of Finance, which also reinforces our goal of poverty eradication,” added Sarmiento.
At the forum, Usec. Chua discussed in details and highlighted the impacts of the recently signed law, the Rice Tariffication. The said law, according to Usec. Chua, will lift the quota restrictions on rice import that would result in an increase of supply.
“With this tariffication, we expect that the price of rice would decrease by P2 to P7,” said Usec. Chua, adding the government is just making sure that the food staple is available, accessible, and affordable at all times.
Usec. Chua also emphasized that the law favors local farmers. “Aid will be given to our farmers through the Rice Competitive Enhancement Fund (RCEF) to help our farmers modernize and advance the quality of their rice,” he added.
Aside from the financial and technology support, the law will also provide literacy program and capacity building to farmers to ensure that the farmers are capable of coping with the competition.
Vouch of support
One of the crucial undertakings the DOF is working for the laws they are promoting is on the information dissemination. “My role is to make sure that the laws we are implementing reaches to the general public and be understood by everyone,” said Usec. Chua, thanking CARD MRI for hosting the forum.
CARD MRI Founder and Chair Emeritus Dr. Jaime Aristotle B. Alip assured Usec. Chua that CARD MRI will support DOF in promoting and underscoring the impact of every financial reform the department is reinforcing. “We will be launching a module on Rice Tariffication Law through our learning sessions with our more than 6.2 million clients nationwide to support the efforts of the government and the Department of Finance in disseminating this important agenda,” said Dr. Alip.
The module will be integrated during the weekly center meeting of CARD MRI’s microfinance clients nationwide. The center meeting is a weekly gathering of CARD clients in specific community where discussions of various development-oriented agenda take place.
It is also during this time where when Account Officers (AO) of CARD conduct Credit with Education (CwE), a program designed to educate and inform the clients about topics related to CARD MRI’s products and services, health, livelihood, credit discipline, and disaster preparedness, among others.
According to Dr. Alip, the goals of the law are similar to what CARD MRI is reinforcing that is to provide access to various kind of support and opportunities for Filipinos. “Since the law is aligned with our mission of poverty eradication, it is only rightful that CARD MRI gives its utmost support to the program,” added Alip.
For this topic, CARD MRI will allot one moth for the discussion of the law. “By April this year we hope to roll out the module in collaboration with the DOF to be able to craft a more simplified and comprehensive module.”
“We at CARD MRI will continue to become the government’s arm and support system in promoting financial inclusion in the country and we hope that the Duterte administration will continue to pass laws that will reinforce the economic status of the underprivileged families in the country,” Alip concluded.