DBM Approves $1.51M Funding for National Tobacco Authority

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May.17.2024

DBM Approves $1.51M Funding for National Tobacco Authority

Philippines budget department approves 87.632 million pesos for National Tobacco Authority to boost support for tobacco industry.

According to the Philippine News Agency (PNA), on May 16, the Department of Budget and Management (DBM) of the Philippines has approved a budget of 87.632 million pesos (1.51 million US dollars) to be allocated to the National Tobacco Administration (NTA) to support the government's efforts to enhance the tobacco industry.

According to a statement released by the DBM on Thursday, Budget Secretary Amenah Pangandaman approved the Notice of Cash Allocation (NCA) for the second quarter demands of NTA on May 9th.

Pangandaman stated, "We understand that agriculture is a crucial part of our economy. Therefore, our government ensures that every sector of our agriculture industry receives support and necessary resources for growth.

According to the DBM, the NTA received a total of 550 million pesos (9.53 million USD) in 2024, with these funds being disbursed through a special allocation order. Of this amount, 175 million pesos (3.03 million USD) have already been released in the form of cash allocation notices to meet the needs of the first half of the year.

Previously, Philippine President Ferdinand R. Marcos Jr. called on the customs bureau and other relevant agencies to enhance efforts to combat tobacco smuggling, stating that this behavior has already harmed the local industry.

References:

[1] DBM OKs release of P87M to uplift tobacco industry

Also Read:

[1] BIR Continues Crackdown on Illegal E-Cigarette and Cigarette Trade

[2] Philippine President Marcos Orders Crackdown on Tobacco and E-cigarette Smuggling

[3] Philippine President Calls for Strengthened Efforts Against Tobacco Smuggling

[4] BIR to Begin Confiscation of Unmarked E-cigarette Products from 2024

[5] Philippines Intensifies Crackdown on Unregistered E-cigarette Sales with Tracking System

[6] Philippines to Implement Graphic Health Warnings on E-cigarettes, Violators Face up to 6 Years in Prison

[7] DTI Reports Millions Worth of Seized Illegal E-cigarette Products

#Traditional tobacco #Legislation #Asia #Philippines #Regulation

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