As of end-April, the GOCCs that received the biggest subsidies were the NIA, P9.566 billion; National Food Authority (NFA), P1.065 billion, and PCIC
, P644 million.
, a government-owned and -controlled corporation (GOCC), said its total crop-insurance coverage last year reached P79.820 billion, 36.53 percent over the P58.465 billion it was able to provide in 2017.
Torres, head of PCIC
Extension Office in Negros Occidental, said on Monday the figures are still up for adjustment to determine the actual extent of damage to their farms.
Beltran told reporters that the government has the option to privatize the PCIC
or transform the government-owned and -controlled corporation (GOCC) into an entity that
'There's a plan to transform the PCIC
into a reinsurer instead of competing with the private sector as an insurer.
) has also paid P632.6 million to 79,515 farmers.
In a report to Agriculture Secretary Emmanuel Pinol, PCIC
president Jovy Bernabe said the P420 million was based on the notices of loss filed as of March 15.
estimates it will pay a total of P1.65 billion worth of insurance to 262,057 farmers who planted rice, corn and high value crops in the six regions affected by Ompong.