Bureau of Customs (BOC) Commissioner Ariel Nepomuceno said the government’s forgone revenues from the implementation of the rice import ban could reach as much as ₱12 billion if the proposed one-month extension to the ongoing 60-day suspension is approved.
“Our forgone revenues, assuming a 60-day period—though it might extend to 90 days, with a proposal to last until the end of the year—would amount to ₱6 billion to ₱8 billion over those two months,” Nepomuceno told reporters on the sidelines of the Federation of Philippine Industries Inc.’s (FPI) Business Summit 2025 on Wednesday, Oct.
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