The Department of Budget and Management released ₱8.05 billion cash aid for the 1.5 million qualified rice farmers.
The Department of Budget and Management (DBM) said that it has approved the release of subsidy to rice farmers affected by the Rice Tariffication Law (RTL).
Budget Secretary Amenah F. Pangandaman said that the Department of Agriculture (DA), which would lead in its distribution, received the Notice of Cash Allocation (NCA) for P8.05 billion.
Around 1.5 million qualified rice farmers will receive P5,000 in the third and fourth quarter of this year as a result from the NCA, Pangandaman stated.
She also said the distribution of the NCA is in line with the rollout of the Rice Farmers' Financial Assistance (RFFA) program, which will benefit rice farmers impacted by the RTL.
The RFFA is a P3 billion unconditional cash transfer program that intends to provide each rice farmer tillinghalf to 2 hectares of land with P5,000 financial support.
“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,” Pangandaman said.
She said this would help farmers buy farm inputs like fertilizers and seeds.
The NCA also pays the service charge for the Rice Competitive Enhancement Fund-RFFA under the Development Bank of the Philippines (DBP), which includes the cost of card creation.
Last March 24, DBM issued a Special Allotment Release Order (SARO) to the DA under Republic Act 11639, General Appropriations Act FY 2022, and Unprogrammed Appropriations totaling P8.9 billion.
Last May 6, the DBM distributed the first batch of NCA worth P894.8 million to the DA based on the budgetary needs of 173,753 eligible rice farmer-beneficiaries.
The law gave rice farmers a P10 billion yearly assistance to help them boost their output and income.
Tags: #DA, #DBM, #ricefarmers #subsidy