Multi-million dollar revival plan for agriculture

A TEN POINT  multi-million dollar plan to revive Panama’s flagging agricultural sector was unveiled by President Juan Carlos Varela on  Wednesday July 29.

It includes $22 million will be the restructuring and modernization of the National Institute of Agriculture, the installation of irrigation systems the cancelling of debts owed by farmers and interest free loans.

The institute facilities, located on 842 hectares, have been abandoned. including an education facility that houses 176 students, 43 of whom are women.

The agricultural plan includes the approval of interest-free loans through December 2016. Currently the sector receives loans at 2 percent interest, but producers have complained that there are delays in disbursements, which can impact planting.

Another of the measures is the creation of a new tax deduction of net income up to 30 percent of the total amount of new investments in the sector.

In addition, Varela announced the creation of an Agricultural Cabinet that will oversee planning and use of resources in the sector.

“These are specific measures in the short, medium and long term, that will help producers operate more efficiently and lead to stability of prices,” said Varela.

The president said farmers will be guaranteed the “transparent purchase” of their crops through the Agricultural Marketing Institute.

During the event the members of the Consultative Council of the Ministry of Agricultural Development, It will be chaired by, were named. They consist of 21 business owners linked to the sector. It wil be chaired by Minister Jorge Arango The members of the Consultative Council were elected by the executive for a period of two years. It will meet once a month

A TEN POINT multi-million dollar plan to revive Panama’s flagging agricultural sector was unveiled by President Juan Carlos Varela on Wednesday July 29.
It includes $22 million for the restructuring and modernization of the National Institute of Agriculture, the installation of irrigation systems the cancelling of debts owed by farmers and interest free loans.
The institute facilities, located on 842 hectares, have been abandoned. including an education facility that houses 176 students, 43 of whom are women.
The agricultural plan includes the approval of interest-free loans through December 2016. Currently the sector receives loans at 2 percent interest, but producers have complained that there are delays in disbursements, which can impact planting.
Another of the measures is the creation of a new tax deduction of net income up to 30 percent of the total amount of new investments in the sector.
In addition, Varela announced the creation of an Agricultural Cabinet that will oversee planning and use of resources in the sector.
“These are specific measures in the short, medium and long term, that will help producers operate more efficiently and lead to stability of prices,” said Varela.
The president said farmers will be guaranteed the “transparent purchase” of their crops through the Agricultural Marketing Institute.
During the event the members of the Consultative Council of the Ministry of Agricultural Development, It will be chaired by, were named. They consist of 21 business owners linked to the sector. It wil be chaired by Minister Jorge Arango The members of the Consultative Council were elected by the executive for a period of two years. It will meet once a month