THE House of Representatives has approved on second reading a bill providing for the extension of the utilization of the Agricultural Competitiveness Enhancement Fund (Acef).

House Bill 2976, an urgent bill certified by President Arroyo, sought to allow the use of duties collected from importation of agricultural products under the minimum-access volume for various agricultural activities.

The entire amount collected will be earmarked by Congress for irrigation, farm-to-market roads, postharvest equipment and facilities, credit research and development and other marketing infrastructure, provision of market information, retraining, extension services, micro, small- and medium-scale enterprises in agriculture, aquaculture and fisheries sectors; young entrepreneurs, out-of-school youth, graduates of agriculture, fisheries and related courses, agriculture and fishery cooperatives engaged in economic enterprises and other forms of assistance and support to agricultural sector.

Besides these, the agricultural programs are aimed at strengthening agricultural competitiveness in the world market.

Authored by Kabalikat ng Malayang Pilipino Rep. Luis Villafuerte  of Camarines Sur and Nationalist People’s Coalition Reps. Alfredo Maranon III of Negros Occidental and Abraham Kahlil Mitra  of Palawan, the bill is amending Republic Act 8178, also known as an “Act replacing quantitative import restrictions on agricultural products, except rice, with tariffs, creating the agricultural competitiveness enhance fund and for other purposes.”

Section 8 of RA 8178 created the Agricultural Competitiveness Enhancement Fund with a life span of nine years to cushion the effect of the lifting of quantitative restrictions on affected sectors of agriculture.

But the money collected from Acef from 1996 to 1998 was not disbursed according to its purpose, as collections were used for budgetary support instead.

Authors of HB 2976 said there is a need to extend the utilization period of the Acef in order to enable the government further to provide the farming sector the opportunity to use the funds to strengthen its development activities and to enhance its competitiveness.

Among others, the salient features of the bill are the utilization period of the Acef, which shall be extended until 2015; and all duties collected from the importation of agricultural products under the minimum-access volume mechanism, unused balance and repayments from loan beneficiaries including interests, if any, shall accrue to Special Account 183 and shall be deposited with the National Treasury and after the expiration of the extension utilization in 2015, the remaining balance shall revert to the general fund.

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SEN. Edgardo Angara moved to realign a portion of the proposed P2.571-billion budget of the Department of Trade and Industry (DTI) to shift the department’s priorities toward promoting rural and domestic economy in the country.

THE House of Representatives has approved on second reading a bill providing for the extension of the utilization of the Agricultural Competitiveness Enhancement Fund (Acef).

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