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Aug 23, 2016 @ 10:21

NFA may lose commercial functions

Finance Secretary Carlos Dominguez said government is planning to scrap the commercial functions of the National Food Authority and keep its regulatory functions.

Malaya Business Insight reported that Dominguez wants government corporations to only have regulatory, not commercial functions.

“It’s not abolition of the NFA, it’s separating the commercial from regulatory functions,” he said.

“Didn’t the government already sign a national agreement liberalizing the rice trade by 2017? It’s just implementing that agreement that has been signed already,” he said.

The NFA, which has a P167-billion debt, receives subsidies from national government.



 

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