Bongbong Marcos’ P12.7-B cash aid for farmers earns praises
President Ferdinand ‘Bongbong’ Marcos Jr. | PHOTO: Presidential Communications Office
Senator Francis Tolentino commended President Ferdinand Marcos Jr. for his unwavering commitment to providing financial aid and support to farmers, recognizing that this assistance is the result of the hard work put in by farmers themselves.
Earlier, Marcos approved the allocation of P12.7 billion to fund a P5,000-cash aid for each of the 2.3 million small rice farmers as part of the Rice Farmers Financial Assistance (RFFA) program.
Additionally, the President has directed the Department of Agriculture (DA) to utilize surplus collections from the Rice Competitiveness Enhancement Fund (RCEF) to procure drying, mechanization, and other essential equipment for rice farmers to enhance and sustain their productivity.
“This is the second installment of aid, with more on the way. Last year, we collected P22.7 billion in rice tariffs, with P10 billion earmarked for projects under the RCEF. Instead of remitting the surplus P12.7 billion to the Treasury, the President has mandated its return to the farmers,” Tolentino explained in a statement.
“From January to August this year, the Bureau of Collections had already collected P16.8 billion. This means that the excess collection of P6.8 billion during the eight-month period will also be distributed to farmers,” the lawmaker added.
Highlighting the crucial role of the President as Secretary of Agriculture, Tolentino likened the government’s support to farmers to the harvest of their hard work during the Marcos administration.
“This is the rightful share of rice farmers, as envisioned by the law. The fundamental principle is that duties collected on rice must be reinvested in them. The law is crystal clear: Farmers are the sole beneficiaries of tax dividends, not the government. Every centavo must be allocated to them, whether in the form of equipment like tractors or cash,” the senator emphasized.
“The President did not withhold these funds but, instead, facilitated their distribution because he understands the law and empathizes with the farmers,” he added.
Under Republic Act 11203, or the Rice Tariffication Law (RTL), revenues generated from rice tariffs should be allocated annually to fulfill the P10 billion requirement for the RCEF, which finances programs and initiatives aimed at enhancing the competitiveness and output of palay farmers.
Tolentino stressed that “farmers are entitled to compensation for the disruptions caused by imports. The RCEF serves as a mechanism to provide farmers with the necessary support, with the hope that the indemnity they receive will not only offset losses but also be reinvested in initiatives that enhance productivity and competitiveness.”
One of the benefits of having President Marcos as Secretary of Agriculture, Tolentino noted, is that “he is not easily swayed by pressures from fiscal conservatives to delay the release or impound the funds.”
“The President does not take such actions merely to make our fiscal numbers look good in the eyes of rating agencies,” Tolentino asserted.
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