Sugar industry in better shape

Bacolod City (1 October) -- President Gloria Macapagal-Arroyo said that presently the production of the sugar industry is in a better state. However, she also acknowledged that there are problems in the industry.

In her speech when she opened the Masskara festival at the Bacolod City Plaza, the President revealed that one of the first things she did when she assumed the Presidency in 2001 was to make orders for a comprehensive plan for the sugar industry. The President said the government allocated 278 Million for the Agricultural Competitiveness and Enhancement Fund (ACEF) and to keep it competitive.

"We are experiencing hard times which are brought about by the Global economic slowdown" the President said. She added that this is a global phenomenon and is causing global difficulties.

President Arroyo assured the Negrenses that the government is working hard on all fronts to manage inflationary pressures, provide safety nets to those hit hardest and to deliver the growth that will generate jobs and revenues needed to invest in the nation's future.

Food stability, including sugar, and food security are major priorities of the government according to President Arroyo. She said they are working hard to make food supply stable and to put food on the table. As for rice, the President said there is stable supply of rice and they are addressing the problems of rice by targeting subsidies for the poor and reaching out to our neighbors to ensure stable supply of rice.

Aside from these, the government is also strengthening the banking system, improving the fiscal health, encouraging investment to encourage growth momentum and insulate the economy from volatility in the world market.

After inaugurating Convergys, the President met with members of the sugar industry in a private meeting to discuss the state of the industry.

source:pia