Manila helps sugar industry

Manila helps sugar industry

BACOLOD CITY, Philippines (DPA): The Philippine government
will spend some 40 billion pesos (US$909 million) for a five-year
program to rehabilitate its ailing sugar industry.

"We have launched a modernization plan for the sugar industry.
This is intended to ensure that in a few years' time, the sugar
industry will be able to provide the sugar requirements of our
country and there will be no need for us to import," said
President Joseph Estrada.

Agriculture Secretary William Dar explained that the five-year
program will entail an average of 8 billion pesos ($182 million)
a year to be funded by the national government and government
financial institutions.

The money will finance the purchase of tractors, mill and
refinery equipment, and transport systems. The national
government will fund research and development, technical
assistance services, irrigation systems, and farm-to-market
roads, Dar said.