February 5, 2015
Sugaronline
Both houses of Congress have ratified the proposed Sugarcane Industry Development Act of 2014, which had been approved by the congressional bicameral conference committee, Rep. Alfredo Abelardo Benitez (Neg. Occ., 3rd District) said, according to the Philippines' Visayan Daily Star newspaper.
The measure was ratified by the Senate Monday and the House on Tuesday, he said.
The ratified measure is expected to be sent to the president this week for him to sign into law, or veto, Benitez said.
If the president does not act on the matter within 30 days from receipt, it will automatically become a law, he added.
Benitez, however, said he has high hopes that the president will sign it.
After the congressional bicameral conference committee reconciled the Senate and Lower House versions of the proposed Sugarcane Industry Development Act of 2014, a provision was included that assures an annual appropriation of PHP2 billion (US$45.3 million).
Of the P2 billion, block farms of agrarian reform beneficiaries will be allocated 15%, socialized credit - 15%, farm mechanization - 15%, scholarships for sugar farm workers children - 5%, and for infrastructure - 50%, Senator Cynthia Villar, Senate Committee on Agriculture chair and co-author of the Senate version of the Sugarcane Act, said.
Villar said that since the 2015 budget has already been approved, the PHP2 billion for the sugarcane industry will be included in the 2016 budget, unless it can be inserted in a 2015 supplemental budget next year.
The bill aims to strengthen the competitiveness and boost diversification efforts of the sugarcane industry, Benitez said.
Reference: http://sugaronline.com/website_contents/view/1239276#sthash.mEm2JD2Z.dpuf