SRA proposal: P2B budget for 2024
BACOLOD CITY: The Sugar Regulatory Administration (SRA) wants to restore its P2 billion budget as mandated by the Sugar Industry Development Program fund for 2024.
Pablo Azcona, acting SRA administrator, said the proposed budget for 2024 of the agency is P1 billion and they want it increased.
Under Republic Act Act 10659 or the “Sugarcane Industry Development Act of 2015,” the Department of Budget and Management should allocate P2 billion a year to promote the competitiveness of the sugarcane industry and improve the incomes of farmers and farm workers through improved productivity, product diversification, job generation, and increased efficiency of sugar mills.
In the proposed P1 billion for next year, it is divided into the following allocations: P485M for farm-to-mill roads; P15M for bridge construction; P150M for bloc farms program; P150M for socialized credit program; P150M for research, development; P50M for human resource development program.
Meanwhile, Azcona clarified that the SRA has no control over the price of sugar in the local market. This comes after lawmakers complained about why prices of sugar in the domestic market are still despite the importation of sugar coming into the country.
He said that they don’t control the retailers who sell sugar in the markets and grocery stores.
“I told the President that the only ones who profit from the high market prices are the retailers,” he said, adding that there is enough supply of sugar.
Azcona said that he is pushing for a P85 per kilo suggested retail price (SRP) so that farmers will not be affected.
However, the implementation of the SRP is with the local government units, he said.
Source Link: https://www.manilatimes.net/2023/07/31/regions/sra-proposal-p2b-budget-for-2024/1903195
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