BACOLOD City – A fund reduction on the Sugar Industry Development Act (SIDA) looms for 2019, disclosed Sen. Cynthia Villar.
This year’s allocation for SIDA is P1.2 billion. According to Villar by next year the fund will be only P500 million. The reduction of budget is due to underspending.
SIDA was created to boost the production of sugarcane and sugar, and increase the income of sugarcane farmers/planters and farm workers, by which the law provides an allocation of P2 billion a year.
Villar said because the fund was underspent every year, so the Department of Budget and Management has decided to reduce the allocation.
Emilio Yulo III, board member of the Sugar Regulatory Administration confirmed that SIDA budget for next year will amount to P500 million only.
He clarified the reason of the fund reduction is because the fund intended for the socialized credit program was not utilized.
Yulo said the reason for the not utilizing the fund was because of the constraint brought about by the requirement in the socialized credit program, that the farmers were not able to comply with.
But, he added that the budget should not be cut down to only P500 million because the fund allocated for their education program was 100 percent utilized and their infrastructure budget for farm-to-mill roads was 96 percent spent.
Villar was in San Carlos City, Negros Occidental on Nov. 5 to grace the Pintaflores Festival 2018./PN
