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Friday, March 29, 2024

Govt extending cash assistance to farmers

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Agriculture Secretary William Dar and Finance Secretary Carlos Dominguez III agreed over the weekend to extend unconditional cash assistance to help rice farmers adjust to low prices of the staple following the enactment of Republic Act No. 11203 or the Rice Tariffication Law.

The cash assistance will be distributed to affected farmers by expanding the ongoing Survival and Recovery program of the Agricultural Credit Policy Council”•an attached agency of the Agriculture Department.

The expansion of the Sure program will also build on the good experience under the Pantawid Pamilyang Pilipino Program of the Social Welfare Department. It is an added program mandated under the Rice Competitive Enhancement Fund, the annual P10-billion fund established under RA 11203 to be sourced from the collection of tariffs on rice imports.

“This unconditional cash assistance program is meant to help cushion the initial impact of lower palay prices on our farmers as they transition to the new rice tariffication regime,” Dominguez said.

“For the long haul, the RCEF facility under RA 11203 will help sharpen the global competitiveness of our farmers by way of an array of programs providing them with access to farm machinery and equipment, high-yield seeds, cheap credit and skills training programs on farm mechanization and modern farming techniques,” he said.

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Tariff revenues from rice imports in 2019 were expected to exceed P10 billion, a way to assure full funding of the RCEF, the Finance Department said.

The annual tariff revenues in excess of P10 billion will enable the further adjustment of assistance for rice farmers.

Dar, who chairs the ACPC Council, will convene the council soon to extend the Sure assistance to farmers. Dominguez is also a member of the ACPC Council.

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