The National Economic and Development Authority (NEDA) said that bulk of the rice competitiveness enhancement fund (RCEF) will be used to modernize palay farms and support the governments goal of increasing the sectors productivity.
The National Economic and Development Authority (NEDA) said that bulk of the rice competitiveness enhancement fund (RCEF) will be used to modernize palay farms and support the governments goal of increasing the sectors productivity.
Republic Act No. 11203 mandates the establishment of RCEF, which guarantees the rice sector P10-billion financial support annually for the next six years beginning this year.
According to the laws implementing rules and regulations (IRR) recently signed by NEDA, the Department of Budget and Management, and the Department of Agriculture, half of the rice fund, amounting to P5 billion annually, will be used to procure rice farm equipment by the government through the Philippine Center for postharvest development and mechanization (PhilMech).
See full article at Manila Bulletin
