ANSWERING the call of President Ferdinand R. Marcos Jr. and the Private Sector Advisory Council-Agriculture Sector Group (PSAC-ASG) to bolster the support for the tobacco sector, Department of Budget and Management (DBM) Secretary Amenah “Mina” F. Pangandaman has approved the release of the Notice of Cash Allocation (NCA) amounting to ₱87.632 million for the National Tobacco Administration (NTA)’s second quarter requirement on 9 May 2024.
“We understand that agriculture is part of the backbone of our economy. For this reason, our government ensures that every segment of our agricultural landscape receives the support and resources it needs to thrive,” stated Sec. Pangandaman.
For the fiscal year (FY) 2024, the NTA has an authorized appropriation of ₱550.504 million which was already released with allotment through Special Allotment Release Order. Of this amount, ₱175.276 million has already been issued a corresponding Notice of Cash Allocation to fulfill the requirements for the first semester.
The budget will be used by the NTA for its operational needs, sourced from 40% of the balance of collections from specific taxes on locally-made Virginia-type cigarettes and tariff duties on imported leaf tobacco. This allocation follows the guidelines outlined in Section 5 of R.A. No. 4155, as amended by Section 3 of R.A. No. 5447, after setting aside shares for LGUs and BIR.
Additionally, the tobacco fund for FY 2023 amounting to ₱550.504 million was fully released last year.
Funds for the NTA shall be charged against R.A. No. 11975, the fiscal year 2024 General Appropriations Act (GAA).
