Metro Manila (CNN Philippines, December 12) — The Senate on Monday passed on third and final reading a measure seeking tougher penalties against individuals profiting from agricultural economic sabotage.
President Fernand Marcos Jr. earlier certified Senate Bill 2432 or the Anti-Agricultural Economic Sabotage Act as urgent in a bid to protect farmers and fishers from abusive traders and importers.
READ: Marcos certifies as urgent bill seeking heftier penalties vs agri economic sabotage
The bill aims to expand crimes that can be considered economic sabotage to include hoarding, profiteering, and cartels of agricultural and fishery products.
It also plans to impose life imprisonment and a fine thrice the value of the agricultural and fishery products to individuals who will be found guilty of such practices.
Authorities will also have the right to seize the subject products, as well as the properties used in launching the crime like vehicles, vessels, aircraft and warehouses, among others.
Meanwhile, government officials found to have conspired in the crime would also suffer additional penalties of perpetual disqualification from holding public office, exercising the right to vote, from participating in any public election, and forfeiture of employment monetary and financial benefits.
The measure also seeks to create an anti-agricultural economic sabotage council to be led by the president, as well as a special team of prosecutors and enforcers.
According to the bill, hoarding happens when the stock is 30% more than the usual inventory, while profiteering involves misrepresentation of price, weight, and quality of products.
