According to Castillo, documents show that of the total 1.14 million tons imported by the government through the national Food Authority, 638,269 metric tons or 52 percent came from one source only the Projects and Equipment Company of India brokered by the Indian national Kishore Hemlani. This rotten and stinking rice stock was paid for by NFA at P16.60 per kilo in coordination with then Philippine International Trading Corp. headed then by Arthur Yap who is now NFA administrator.
To cover up the stinking mess the NFA is now selling the spoiled commodity at losing price of P12 per kilo. To date, NFA has already disposed of 7 million bags at a loss of billions of pesos.
While the administration is exhorting all sectors in its revenue collection efforts to beef up its severe cash shortage, here is a government agency throwing away billions of people’s money which by importing is killing the local rice farmers and which by selling at dumping prices is eliminating the small independent rice traders. Castillo together with other smalltime businessmen are now calling on the administration to stop this anomaly.
In a separate event, Rep. Carlos Padilla issued a statement that as of last week alone, the NFA sold 2.2 million bags of the rotten and stinking rice.