- Posted February 4, 2014 by
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Phl senator: Ensure food for children
Poe filed Senate Bill (SB) 2089, or An Act Promoting Corporate Farming and Providing Incentives for its Effective Implementation, to ensure a more stable food supply.
"We have to take concrete steps to fully address food security and ensure adequate nutrition for our citizens," said Poe, whose main advocacy is to promote nutrition for children.
SB 2089 seeks to develop a suitable corporate farming program that will boost public-private partnerships to enhance productivity in the agriculture sector.
"The Philippines should make its agricultural polices more responsive and up-to-date in keeping with global standards," Poe said.
Corporations and partnerships that will participate in corporate farming shall be given tax incentives on customs duties, value-added tax, capital gains tax and other tax breaks.
The bill also provides that loans extended by banks to participating firms or partnerships shall be treated as compliance to the Agri-Agra Reform Credit Act of 2009.
According to a 2013 World Bank statistics, agriculture employs more than 32 percent of the Filipino workforce.