PGMA signs ACEF bill
By Mai Gevera
Davao City (28 February) -- President Gloria Macapagal-Arroyo signed House Bill 2976 or the act to extend the Agricultural Competitiveness Enhancement Fund (ACEF) before the municipal mayors of Mindanao.
PGMA intended to sign the said bill in time for the 1st League of Municipalities of the Philippines Mindanao Cluster Conference as she wanted the local chief executives to witness another government initiative to spur development especially in the field of agriculture.
"This is another important means to spread development away from Metro Manila," she said as PGMA cited that two of the five regional clusters as agri-business are located in Mindanao.
The bill, sponsored by Congressman Rajah Mitra and Senator Edgardo Angara, was believed to answer the needs of Mindanao especially as it provides the budgetary requirements for agricultural infrastructure. The said fund is set to be extended until 2015 and is designed to help farmers and agri-businessmen to become more competitive.
PGMA remained thankful to the people in Mindanao for continuously serving the whole country as the food basket of the Philippines.
The President explained that the amount of the funds will depend on the quantitative restrictions which will require higher tariffs for products that have gone beyond the set amount.
Mitra declare that the said fund is expected to reach P6 billion and 30 percent of which will benefit agriculture in Mindanao.
The fund is expected to build more infrastructure like agri airports, seaports, and others. (PIA) [top]