Budget Secretary Amenah Pangandaman
鈥擯HOTO FROM DBM
MANILA, Philippines 鈥� The National Tobacco Administration (NTA) has received P580.5 million from the P6.326 trillion national budget for fiscal year 2025 to support its Tobacco Industry Development Program, Budget Secretary Amenah Pangandaman revealed during the 2nd International Tobacco Summit on Monday.
鈥淥n December 30, 2024, the President signed and approved the P6.326 trillion pesos National Budget for Fiscal Year 2025, which is designed to address our present needs to sustain growth and uplift the lives of generations that are yet to come. That鈥檚 why more than half of the national budget is allocated for both social and economic services,鈥� Pangandaman said in a recorded speech.
She emphasized that agriculture remained a government priority, with significant investments made to modernize the sector, particularly the tobacco industry.
鈥淎s agriculture remains a government priority, we will invest heavily in modernizing the sector, especially the tobacco industry, to enhance productivity, strengthen budgetary development, and expand farmers鈥� market access,鈥� she added.
Of the P580.5 million allocation, P100 million was earmarked for the Tobacco Farmers Production Assistance Program, the Department of Budget and Management (DBM) secretary bared.
According to Pangandaman, this shall 鈥渆nhance the global competitiveness of the local tobacco industry through research and development, technological assistance, and production support services and policy development.鈥�
Another P100 million was allocated for the Curing Barn Assistance Project, which supported the construction and repair of curing barns and sheds.
鈥淭hese programs will also be complemented by initiatives that improve the access of marginalized farmers and migrants of enterprises to financial services, especially to low-interest loans, as our farmers are the backbone of the Philippine agriculture sector,鈥� the DBM secretary noted.
Pangandaman likewise highlighted broader initiatives aimed at helping farmers, such as the Agricultural Credit Program, which received P2.75 billion to provide low-interest loans to small farmers and fisherfolk.
The government also allocated P4.5 billion to the Crop Insurance Program to cover premiums for crops, livestock, fisheries, and non-crop agricultural assets, she added.
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The DBM secretary also lauded the Anti-Agricultural Economic Sabotage Act, signed last year, as an essential step in curbing hoarding, smuggling, and other illegal practices.
鈥淭hrough this law, we will prevent the entry of smuggled tobacco, ensuring that correct duties and taxes are paid while imposing higher penalties,鈥� she emphasized.
Pangandaman also noted that infrastructure projects under the Build-Better-More Program benefited agriculture.
鈥淣ine projects will focus on boosting the agriculture sector, which includes 20 rural development projects, scale-up projects, aimed at improving farmers and fisherfolks鈥� market access,鈥� she said.
鈥淭his will help build a more resilient agriculture sector that defends both our farmers and consumers.,鈥� Pangandaman concluded.