Pangasinan to renew rice loan program pact with NFA

>> Friday, October 7, 2016

LINGAYEN, Pangasinan — The provincial government of Pangasinan will soon renew its rice loan program agreement with the National Food Authority to prepare for calamities and emergencies.
During a recent regular session, the Sangguniang Panlalawigan here passed a resolution authorizing Gov. Amado Espino III to sign a memorandum of agreement with NFA-Pangasinan branches on rice loan program for relief operations and stockpiling in preparation for disasters and calamities.
The resolution, authored by Board Member Liberato Villegas, said it is the local government unit’s task to provide their constituents the basic social services at all times especially in times of calamities.
“In order to provide immediate assistance to the populace and cushion the impact of any disaster, the provincial government has opted to sustain its program by purchasing rice on credit for its relief operation once a state of calamity is declared either by the President or by the Sangguniang Panlalawigan pursuant to the law,” the resolution read.
Gionisio Rivera, manager of NFA-Eastern Pangasinan, said that under the rice loan program, the provincial government can purchase rice on credit from NFA based on the latest consumers’ price.
Rivera said based on the prevailing NFA consumers’ price amounting to P27 per kilo, the provincial government can buy rice on credit for a total of P1,350 per sack that is payable within 15 days without interest.
However, Rolando Rufo, manager of NFA-Western Pangasinan, clarified that if the provincial government fails to pay after the grace period, two percent interest on the total amount borrowed will be imposed.
NFA branches in Western and Eastern Pangasinan have a buffer stock of over 260,000 bags of rice sufficient to support the needs of Pangasinenses until December. -- PIA


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