President Ferdinand R. Marcos, Jr. met with members of the sugar sector and discussed ways to boost production, the presidential palace said on Wednesday.
They discussed suggestions to revitalize the Philippine Sugar Corp., which provides financing to farmers and their associations, it said in a statement.
The state-owned company was created under a 1983 presidential decree to finance the acquisition, rehabilitation and expansion of sugar mills, refineries and other facilities.
An order to abolish the body was released in October 2018, given overlapping functions with the Sugar Regulatory Administration.
Last month, state auditors flagged the agency for failing to make progress on the abolition order, resulting in expenses worth P29.3 million.
During the meeting, Mr. Marcos and sugar stakeholders also tackled the approved importation of 150,000 metric tons of sugar and “how to open up the importation to all traders,” the Presidential Communications Office said.
“There were also discussions on future plans to strengthen the local sugar industry, as well as identification of sugar lands to increase acreage aimed at boosting production,” it added. — Kyle Aristophere T. Atienza