“Masagana 99’” program of her father, the late President Ferdinand E. Marcos, was a failure as it bankrupted 800 rural banks that bankrolled the rice program.In a Senate committee of the whole public hearing on government programs to contain and resolve varied problems created by the coronavirus disease pandemic, Marcos proposed that her late father’s program be revived to help farmers suffering losses and other hardships.
When oil prices spiraled, the cost of production was so high that farming no longer became a profitable enterprise, while the credit subsidy component of the program was also unsustainable. “Dr. Emil Q. Javier is a member of the National Academy of Science and Technology and also chair of the Coalition for Agriculture Modernization in the Philippines .”
Sen. Marcos then went on to say that “the success perhaps was not in banking, but the success was in rice exportation.”
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Dominguez schools Imee Marcos: Masagana program left farmers in debt(UPDATED) Finance Secretary Carlos Dominguez III tells Senator Imee Marcos that the rice program during her father's regime led to the bankruptcy of some 800 banks boom! 1st school imee had She was just a 'baby' then. She wouldn't know... 😂 YourFatherWasAThief MarcosNotAHero
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Dominguez rebuts Marcos on Masagana 99 feat: ‘I cleaned up the mess’“Ma’am before we go ahead, regarding the Masagana 99. I was Secretary of Agriculture that cleaned up the mess of Masagana 99. There were 800 rural banks that were bankrupted by that program, we had to rescue them,' Dominguez said. | khallareINQ khallareINQ ....do you expect the daughter of a dictator to tell the truths?.... khallareINQ I admire the secretary for correcting the lie point blank. Good job, secretary! khallareINQ Taenang mga Marcoses to, hindi na lang kasi kainin ng lupa sa kasamaan!
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Dominguez rebuts Marcos on Masagana 99 feat: ‘I cleaned up the mess’“Ma’am before we go ahead, regarding the Masagana 99. I was Secretary of Agriculture that cleaned up the mess of Masagana 99. There were 800 rural banks that were bankrupted by that program, we had to rescue them,' Dominguez said. | khallareINQ khallareINQ ....do you expect the daughter of a dictator to tell the truths?.... khallareINQ I admire the secretary for correcting the lie point blank. Good job, secretary! khallareINQ Taenang mga Marcoses to, hindi na lang kasi kainin ng lupa sa kasamaan!
Source: inquirerdotnet - 🏆 3. / 86 Read more »