RP can survive economic crunch

CEBU - Despite the global financial meltdown, Presidential Management Staff Undersecretary Ferdinand Cui Jr. yesterday assured the members of the Regional Association of Development Information Officers 7 that the country is “generally doing okay” in keeping up with its food and energy needs.

Cui, who was guest speaker in the second day of RADIO 7’s 18th Consultative Conference at the Golden Prince Hotel, said that the national government has launched programs and allotted huge sums for their implementation to ensure that the country is ready for the consequences that may arise from the present global financial crisis, which is expected to affect even to non-banking industries like food and energy.

On food security, Cui said the country will be 98-percent rice sufficient by 2010. To achieve this, P1.1 billion is allotted for college scholarships to entice students to take up agricultural courses, especially rice farming, as the low manpower working in this industry is actually seen as one of the root causes why there is minimal production of agricultural products, especially rice.

Cui said farming is not necessary “fashionable or sexy” for the young ones that they would rather become nurses or call center agents than till agricultural farms.

To address this problem, subsidies for college education were raised to attract students to join this industry, Cui said.

Meanwhile, Cui revealed that P4.15 billion is allocated to small irrigation facilities, and 15,795 hectares of farmland all over the country have been restored as of July this year.

To ensure that the 98-percent rice sufficiency is achieved before her term ends, President Gloria Arroyo signed Administrative Order No. 226 last May 16, which suspended the processing or approval of all applications of rice lands for two years.

Moreover, at least P20 billion worth of loans or credits from the Landbank of the Philippines is available this year for farmers and fisherfolk, plus, P5 billion more for rice farmers.

As to the looming energy crisis, Cui said the government is now promoting the use of alternative fuel and renewable energy to slowly ease dependence on imported oil.

The Galoc Oil Field in Palawan could also be another source of indigenous energy as it produces 500,000 barrels of oil per year, Cui said. — Liv G. Campo/JMO (THE FREEMAN)