Marcos’ order to institutionalize financial aid for farmers, a positive dev't — agri group

The Samahang Industriya ng Agrikultura (SINAG) said Monday President Ferdinand “Bongbong” Marcos Jr.’s order to institutionalize financial assistance to help farmers increase local production is a positive development.

In his first State of the Nation Address (SONA), Marcos said financial aid to farmers and fishers will be a permanent policy in his administration.

“Ang mga pautang at financial assistance sa mga magbubukid at mangingisda ay magiging institusyon at patakaran ng aking administrasyon,” the President, sitting as the secretary of the Department of Agriculture, said.

(The loans and financial assistance for farmers and fishers will be institutionalized in my administration.)

The agriculture group said the President’s first SONA highlighted the problems of high food prices because the “the cost of producing them are increasing, compounded by the unnecessary layers in the value chain.”

“The challenge of our times is to locally produce more, and the SONA emphasized the government’s commitment to subsidize essential farm inputs - fertilizers, pesticides, feeds, and fuel. We also commend the marching order of increasing aquafarms, hog and poultry farms as the basis to increase local production,” the group said.

“Condoning loans of small farmers and instituting financial assistance to help farmers are positive developments for the agriculture sector. It is by and large, a welcome start,” it added.

Marcos said he will also issue an order imposing a one-year moratorium on the payment of land amortization and interest payments to aid land reform beneficiaries.

The chief executive mentioned the inclusion of such provision under the Republic Act No. 11469 commonly known as the Bayanihan to Heal as One Act which was legislated to help the government address the COVID-19 situation and its effects to various sectors in the country.

"A moratorium will give the farmers the ability to channel their resources in developing their farms, maximizing their capacity to produce, and propel the growth of our economy," Marcos said.—Richa Noriega/AOL, GMA News