Gov’t may scale down rice subsidy – BusinessWorld Online
PRESIDENT Ferdinand R. Marcos, Jr., said the government expects to scale down subsidies for its flagship rice program as improved domestic production is seen on the back of ongoing agricultural reforms.
“We got to a point where we can say, ‘We can afford this. We can afford the subsidy,’” Mr. Marcos said in Filipino, in a video blog posted on his social media pages on Wednesday night.
“And as subsidy — as the subsidy becomes less and less, the coverage of the P20-per-kilo rice will expand,” he added, noting the government will target more low-income consumers.
Since taking office, the Marcos administration has sought to boost farm output by lowering production costs, supplying machinery, and cracking down on smuggling and hoarding. Distribution of land to farmers has also been accelerated under the agrarian reform initiative.
The chief executive credited these efforts with helping the country achieve harvests in recent planting seasons.
“In the past three years, we’ve laid the groundwork. Now, we have the capacity.” — Chloe Mari A. Hufana