BoC sharp­ens drive vs erring traders

Daily Tribune (Philippines) - - BUSINESS - JOSHUA LAO @tri­bunephl_lao

The gov­ern­ment has in­ten­si­fied its ef­forts against erring traders, rice smug­glers in par­tic­u­lar, fol­low­ing the sus­tained raids of the Bureau of Cus­toms (BoC) il­le­gal stor­ages of the com­mod­ity. Cus­toms com­mis­sioner Rey Leonardo Guer­rero as­sured Fi­nance sec­re­tary Car­los Dominguez III of their strict over­sight over rice im­por­ta­tions of pri­vate traders. “Those are sub­ject to post-mod­i­fi­ca­tion and post-au­dit and in the mean­time, we are still con­duct­ing the post-mod­i­fi­ca­tion, ver­i­fy­ing the pay­ments of rice be­cause some of them are clearly un­der­val­ued,” Guer­rero said, adding that “they will catch up in the post-mod­i­fi­ca­tion and post-au­dit.” He said traders were al­lowed to avail of the pro­vi­sional goods dec­la­ra­tion in pro­cess­ing their ship­ments amid the pan­demic, but they discovered that val­u­a­tion on sev­eral rice ship­ments were quite low ver­sus cur­rent mar­ket prices.

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