• October 2, 2024

Stakeholders Welcome ‘Economic Sabotage’ Law

 Stakeholders Welcome ‘Economic Sabotage’ Law
Photo: PMFTC

Philippine President Ferdinand Marcos Jr. on Sept. 26 signed a law protecting the agricultural sector, including tobacco growers, from illegal products, reports the Manila Standard.

The Anti-Agricultural Economic Sabotage Act aims to make food more affordable and provide better income to local farmers. The law classifies smuggling, hoarding, profiteering, cartel formation and financing of these crimes involving agricultural and fishery products as acts of economic sabotage. Violators risk life imprisonment and fines up to five times the value of the goods involved.

“We are deeply grateful to President Ferdinand ‘Bongbong’ Marcos Jr. and his administration for their unwavering support in enacting this law,” said Saturnino Distor, president of the Philippine Tobacco Growers Association (PTGA), after the signing of Republic Act No. 12022. “With its implementation, we are hopeful that tobacco farming will receive adequate protection against the entry of illegal products.”

The PTGA, which represents 50,000 tobacco farmers, described the law as a critical step to protect the industry from smuggled tobacco. Distor noted that illegal cigarettes harm farmers, especially with the rising prices of legal cigarettes due to tax increases. “We hope the government’s action against smugglers will improve the state of Philippine tobacco and bring relief to our farmers and their families,” he said.

“We’ve seen the damaging impact of smuggling, particularly the proliferation of fake and illegal nicotine products,” said Anton Israel, founder of the Nicotine Consumption Union of the Philippines. “This new law strengthens the fight against illicit cigarette and e-cigarette trade,” he said.