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. READ:
In a statement on Monday, Budget Secretary Amenah F. Pangandaman said the DBM released the Notice of Cash Allocation to the Department of Agriculture , which will distribute a P5,000 subsidy to 1.56 million farmers.
The release of the NCA supports the Rice Farmer Financial Assistance program, targeted at farmers affected by the Rice Tariffication Law, she said. 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 to help the industry modernize.
The NCA likewise covers the service fee, including the cost of card generation, for the RCEF-RFFA of the Development Bank of the Philippines.
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