BACOLOD City – The Sugar Regulatory Administration (SRA) is seeking to have its P2-billion budget restored next year, as mandated under the Sugar Industry Development Program Fund for 2024.
SRA acting administrator Pablo Luis Azcona said the proposed budget for the agency next year P1 billion.
Under Republic Act 10659, or the Sugarcane Industry Development Act of 2015, however, the Department of Budget and Management should allocate P2 billion annually to promote the competitiveness of the local sugarcane industry and improve the income of sugar farmers and workers through improved productivity, product diversification, job generation, and increased efficiency of sugar mills.
Based on the initially proposed P1-billion budget for next year, the funds are divided into the following allocations:
* P485 million for farm-to-mill roads
* P15 million for bridge construction
* P150 million for bloc farms program
* P150 million for the socialized credit program
* P150 million for research and development
* P50 million for the human resource development program
Azcona also clarified that the SRA has no control over the price of sugar in the local market after several lawmakers complained that the prices in the domestic market are still high despite the recent importation of sugar.
According to the SRA head, they don’t control the retailers in markets and grocery stores.
Azcona added that the only ones who profit from the high market prices are the retailers and assured there is enough supply of sugar.
He is pushing for a P85 per kilo suggested retail price (SRP) so that farmers will not be affected, although the implementation of the SRP is with the local government units. (Watchmen Daily Journal)
