Sugar Regulatory Administration (SRA) board member, Atty. Emilio Yulo, said the agency is hastening Sugarcane Industry Development Act (SIDA) programs, particularly those regarding the socialized credit program.

He said the P2 billion annual allocation, provided by the General Appropriations Act, has been underutilized and they have been able to use some of it for credit financing.

Considering socialized credit makes up about 15 percent of the total SIDA allocation, Yulo said they need to spend “double time.”

The SRA board member added, there has been an increase to the mill gate price of sugar over the past two weeks and he hopes it continues to move in that direction./DGB, WDJ