The President also said that he may install a system to monitor how cooperatives spend government loans and correct the agricultural financing programs.
“Marcos was one of the brightest Filipinos. What a waste, I regretted his lost,” Duterte said when he went to see the victims of Supertyphoon Haima (Lawin).
He is repetitive in expressing his plan when he addressed the typhoon victims in Ilagan City, Isabela.
His administration would spend most of the next budget on agriculture, education, and health once investments from countries like China flow into the Philippines, he further said.
“Let’s prioritize food,” he added.
President Duterte said the Masagana 99 rice subsidy program should be revived.
The term Masagana is a Filipino word which refers to abundance while 99 refers to the government’s target production of 99 cavans for every hectare.
In 1973, Masagana 99 was launched as a set of productivity incentives from low-cost fertilizer subsidies and technical price support, said by the 1981 edition of the Philippine Review of Economics and Business.
If the program had been successfully implemented, the country’s production of food would have improved but when Marcos started to weaken, there were abuses, Duterte quoted.
Meanwhile, the Biyayang Dagat Fisheries loan and guarantee fund offered soft loans to fishing organizations through the Land Bank of the Philippines. “I will revive. I will copy them. (Marcos) was bright; he knew what he was doing,” President Duterte said.
He stressed he was also thinking of ordering the Land Bank of the Philippines to reassume its original mandate of providing assistance to farmers.