Smarter News Now
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
No Result
View All Result
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
  • Top News
  • Economy News
  • Forex News
  • Investing News
  • Stock News
  • Politics News
  • Editor’s Pick
No Result
View All Result
Smarter News Now
No Result
View All Result
Home Investing News

DBM releases rice farmer subsidy of over P8 billion

by
August 1, 2022
in Investing News
0
DBM releases rice farmer subsidy of over P8 billion
0
SHARES
40
VIEWS
Share on FacebookShare on Twitter

THE Department of Budget and Management (DBM) said it released P8.05 billion worth of subsidies for rice farmers for distribution in the third and fourth quarters.

In a statement on Monday, Budget Secretary Amenah F. Pangandaman said the DBM released the Notice of Cash Allocation (NCA) to the Department of Agriculture (DA), which will distribute a P5,000 subsidy to 1.56 million farmers.  

“Our farmers deserve our help and care. The immediate release of cash assistance could provide relief to our rice farmers given the recent natural calamities they experienced,” Ms. Pangandaman said.

The release of the NCA supports the Rice Farmer Financial Assistance (RFFA) program, targeted at farmers affected by the Rice Tariffication Law, she said.

The RFFA is a P3-billion unconditional cash transfer program targeting rice farmers tilling 0.5 to 2 hectares of land.

Passed in 2019, the Rice Tariffication Law allowed rice to be imported more freely but charged tariffs of 35% on grain imported from Southeast Asia. The tariffs provide P10 billion a year to the Rice Competitiveness Enhancement Fund (RCEF) to help the industry modernize.

“This unconditional cash assistance could also provide aid to the rice farmers in securing farm inputs such as fertilizer and oil farm machinery,” Ms. Pangandaman added.

The NCA likewise covers the service fee, including the cost of card generation, for the RCEF-RFFA of the Development Bank of the Philippines.

On March 24, DBM released a Special Allotment Release Order amounting to P8.9 billion to the DA as an unprogrammed appropriation.

Additionally, on May 6, an initial NCA worth P894.8 million was released by the DBM to the DA to support 173,753 qualified rice farmer-beneficiaries. — Keisha B. Ta-asan

ShareTweetPin

Related Posts

Senate grills Rodriguez on approval procedures for sugar import order
Investing News

Senate grills Rodriguez on approval procedures for sugar import order

August 23, 2022
Trade dep’t expecting sugar price monitoring report by Friday
Investing News

Trade dep’t expecting sugar price monitoring report by Friday

August 23, 2022
Fisherfolk seek halt to reclamation on municipal fisheries
Investing News

Fisherfolk seek halt to reclamation on municipal fisheries

August 23, 2022
Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case
Investing News

Supreme Court rules petitioners have no standing in PDS ‘monopoly’ case

August 23, 2022
ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts
Investing News

ERC signals planned overhaul of regulatory practices via benchmarking exercise with regional counterparts

August 23, 2022
Malaysian trade official urges PHL to sign up for RCEP  
Investing News

Malaysian trade official urges PHL to sign up for RCEP  

August 23, 2022
Next Post
Business chambers call for COVID-19 lessons to be applied to managing monkeypox

Business chambers call for COVID-19 lessons to be applied to managing monkeypox

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Email Address *
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
 

Recommended

Geely PHL opens dealership in Dumaguete City

Geely PHL opens dealership in Dumaguete City

July 31, 2022
Tsai on Durant desire

Tsai on Durant desire

August 11, 2022
No sugar shortage, industry says; high prices blamed on ‘hoarding’

No sugar shortage, industry says; high prices blamed on ‘hoarding’

July 14, 2022
The Benefits of a lightweight conservatory roof

The Benefits of a lightweight conservatory roof

June 14, 2022
DoT’s Frasco signals major push to highlight neglected destinations

DoT’s Frasco signals major push to highlight neglected destinations

July 4, 2022
Gov’t ‘working on’ sovereign rating upgrade, Diokno says

Gov’t ‘working on’ sovereign rating upgrade, Diokno says

August 17, 2022
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting

Copyright © 2022 SmarterNewsNow.
All Rights Reserved.

Disclaimer: SmarterNewsNow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home
  • Privacy Policy
  • Terms & Conditions
  • Thank You

Copyright © 2020 SmarterNewsNow. All Rights Reserved.