DBM OKs release of P87M to uplift tobacco industry

By Darryl John Esguerra

May 16, 2024, 10:13 am

MANILA – The Department of Budget Management and Development (DBM) has approved the release of PHP87.632 million to the National Tobacco Administration (NTA) in line with the administration’s push to bolster support for the tobacco industry.

Budget Secretary Amenah Pangandaman approved the release of the Notice of Cash Allocation (NCA) for the funds for the NTA’s second quarter requirement on May 9, the DBM said in a statement Thursday.

The NTA is the sole government body that oversees and regulates the growth and development of the industry, and looks after the welfare of marginalized farmers.

“We understand that agriculture is part of the backbone of our economy. For this reason, our government ensures that every segment of our agricultural landscape receives the support and resources it needs to thrive,” Pangandaman said.

For 2024, the NTA has a total of PHP550.504 million appropriation, which according to the DBM, was already released through a Special Allotment Release Order.

Of this amount, PHP175.276 million has already been issued a corresponding Notice of Cash Allocation to fulfill the requirements for the first semester, the DBM said.

Earlier, President Ferdinand R. Marcos Jr. called on the Bureau of Customs and other concerned agencies to intensify the crackdown against tobacco smuggling, which he said has been hurting the local industry. (PNA)