House leaders have set aside a portion of the P1.23 billion intelligence fund under next year’s proposed budget into programs that help defeat inflation.
The small committee charged by House appropriations committee chairman Elizaldy S. Co to reflect the mandate at the 2024 General Appropriations Bill (GAB) has crafted a program allowing various line agency units to rework the intelligence budget into price-fighting programs instead.
“Responding to the call of the times and the volatile situation in the West Philippine Sea, the small committee – as mandated by the House Plenary – has decided to realign CIFs to agencies whose principal mandate is to gather intelligence and ensure the protection of our national sovereignty,” appropriations committee chief Co said.
As repurposed, the Department of Agriculture will receive P20 billion of the funds to help it underwrite the cost of the rice subsidy program and help sell the staple at subsidized prices. The amount would go far in the ongoing effort to deal with food inflation which has risen the fastest to s seven-month high of 9.7 percent in September.
The National Irrigation Administration (NIA) that even now has to deal with the impact of the El Nino weather disruptions on water resources, will receive P40 billion.
Another P2 billion had been re-channelled to the Philippine /coconut Authority (PCA) for the replanting of seedlings and P1.5 billion to pursue a vaccination program against the African swine fever sweeping across the country hitting hardest the backyard hog raisers whose industry help shape the price of pork at the retail level.
The legislators also considered the role played by the Philippine Fisheries Development Authority (PFDA) and the construction of fishery and post-harvest facilities in Palawan and the Kalayaan Group of Islands which will receive P1 billion.
Co said the realignment was based on the consensus among the legislators to optimize the impact of the nation’s budget and defeat inflation, address the high cost the rice staple, invest in the Filipino and the economic future of the country.
