Farmers allocated P10B in fertilizer, fuel subsidies
THE Department of Budget and Management (DBM) said over P10 billion was allocated for fuel and fertilizer assistance to farmers in the 2024 budget.
Some P9.561 billion will go to fertilizer discount vouchers, a program run by the Department of Agriculture’s (DA) National Rice Program.
Some P6.161 billion will be used in conjunction with the DA’s hybrid seed program while P3.4 billion will fund fertilizer subsidies for inbred certified seed varieties.
“The fertilizer assistance program is expected to be implemented within the major rice-producing provinces and promote balanced fertilization to increase rice productivity,” the DBM said.
Meanwhile, the remaining P510.4 million will go to fuel assistance, including the operating expenses incurred in the distribution of the assistance. — Luisa Maria Jacinta C. Jocson