The national government has allocated P2.3 billion to revive the local manufacturing sector.
Department of Trade and Industry Undersecretary Adrian Cristobal Jr. said during the ASEAN Comprehensive Investment Agreement Forum yesterday that the P2.3 billion budget was included in the 2014 Government Appropriations Act.
”For 2014 GAA, there’s roughly P2.3 billion in the budget that is geared towards the manufacturing sector and these P2.3 billion is spread out through agencies,” Cristobal said.
He cited converging government agencies such as the Department of Science and Technology, Technical Education and Skills Development Authority, Department of Labor and Employment, Department of Energy, and DTI for the “manufacturing resurgence program.”
Each agency will have its own projects that will enhance the country’s manufacturing industry, Cristobal said.
DTI’s part in the P2.3 billion budget will fund the revival of the Industry Development Council which will be the government’s official body for policy making to boost the sector.
For 2013, DTI allotted a total of P700 million pesos for the SSF program. It also planned to allocate the same amount for this year.
Cristobal said the budget for the SSF program is not included in DTI’s allocation from the P2.3 billion for the manufacturing sector under the 2014 GAA.*PNA