2 weeks NFA: No diversion of P7-B rice procurement subsidy Manilatimes |Biz
STATE-RUN National Food Authority (NFA) on Sunday clarified there was no diversion of its procurement subsidy from the government amounting to P7 billion, after the Commission on Audit reported that the grains agency used the funds to pay for maturing loans instead of rice buffer stocking. In a statement, NFA said its has set up a separate account for its procurement subsidy, which is dedicated to palay (unmilled rice) buying from local farmers. “The issue had been addressed way back in 2018,” NFA administrator Judy Carol Dansal said.
She said NFA had a hard time accomplishing its procurement ... more