PHILIPPINE PRESIDENT RELEASES FURTHER US$5.4 MLN UNDER ACEF.

MANILA, May 1 Asia Pulse - President Gloria Macapagal-Arroyo today ordered the release of an initial P278 million (US$5.4 million) under the P600-million Agricultural Competitiveness Enhancement Fund (ACEF) to finance the purchase of tractors for small farmers to enable them to modernize their operations.

The President issued the directive to Budget Secretary Emilia Boncodin following her dialogue in Malacanang with the officials of the Confederation of Sugar Producers Associations, Inc. (CSPAI) and the Philippine Sugar Millers Association, Inc. (PSMAI) recently.

During the dialogue, industry leaders pointed out that in order to protect the industry against the possible entry of cheap, dumped sugar, they suggested that the tariff for sugar be brought back to 80 percent.

The President supported the position and instructed the industry leaders to pursue the matter with the Tariff Commission, with Agriculture Secretary Leonardo Montemayor as the representative of the sugar industry leaders in the commission.

She noted that the efforts to bring the tariffs back to 80 percent is part of the Philippines, commitment to the World Trade Organization (WTO) in order to protect the industry against the dumping sugar.

President Macapagal-Arroyo informed the group that her administration, through the Sugar Regulatory Administration (SRA), will undertake the following measures to revive the local sugar industry:

Institute adequate tariff protection measures to shield the industry ...