Climate Change Climate Change Climate Change

NFA’s debt grew by P30-B under Arroyo, says Drilon




02:13 PM October 16th, 2012

By: Maila Ager, October 16th, 2012 02:13 PM

MANILA, Philippines – Six months before the 2010 elections, the liability of the National Food Authority (NFA) during the time of then President Gloria Macapagal-Arroyo allegedly grew by almost P30 billion, Senator Franklin Drilon said on Tuesday.

From P147.5 billion in December 2009, NFA’s debt rose to P176.8 billion by June 2010, an increase of P29.3 billion, Drilon said, citing records submitted to the Senate committee on finance, which he heads.

The increase, he said, was similar to the increase in liability incurred from 2008 to 2009.

“What is significant about the first six months of 2009?” he asked. “Noong panahon ng election ay lomobo ang utang ng NFA sa anim na buwan ng sa P29 billion (During the election period, the debt of the NFA grew by P29 billion in six months).”

From P176.8 billion, Drilon said, the Aquino administration has reduced the NFA’s liability to P147.4 billion.

“So this is a burden that this administration had to carry and the Secretary has assured that this will be continuously addressed,” he said, referring to Agriculture Secretary Proceso Alcala.

“The borrowing guarantees for 2013 are indicated at P21.6 billion,” Drilon added.

Disclaimer: Comments do not represent the views of We reserve the right to exclude comments which are inconsistent with our editorial standards. FULL DISCLAIMER

For feedback, complaints, or inquiries, contact us.