43 billion for 2010 elections?

Opps, haven't you noticed?

In just a few days, the peso climbed to 43 pesos to a dollar. That would surely affect rice importation by government. Instead of probably losing 20 billion pesos, as what Mar Roxas correctly said, government could lose more since it aims to import 675 metric tons of rice. Current global prices of a ton of rice is pegged between 800 to 1,000 dollars per metric ton. That would surely require more money from government to be able to import enough stocks.

There's another one.

Former agriculture secretary Salvador Escudero, the last agri secretary of dictator Marcos, correctly pointed out that Mrs. Arroyo is set to implement a 43 billion pesos rice self-sufficiency program similar to Masagana 99. Escudero said that Masagana 99 gave the Philippines a self-sufficiency status for almost ten years.

With FIELDS, Escudero hopes that the same thing will happen in the Philippines. I think though that the similarities are just about that.

With 2010 just around the corner, I am quite sure that this FIELDS program will just be used to prop up the chances of KAMPI-Lakas CMD against the opposition, especially in courting votes in the countryside.

KAMPI knows that its chances against the opposition stands quite low since Estrada continues to position himself as the opposition's poster boy. To justify cheating in this election again, they could probably use FIELDS to justify victory in the countrysides.

We all know that cavans of rice translate into votes come election time. And if we are to believe economic adviser Salceda that this crisis will affect us until 2010, you now know what I mean.