NFA audit in the works

BY SAMMY JULIAN
Malacaang Correspondent

MANILA – New National Food Authority (NFA) Administrator Angelito Banayo requested the Department of Justice (DOJ) and the National Bureau of Investigation (NBI) to be part of an audit team that would look into specific areas of concern in the grains agency, including allegations of overstocked warehouses, its P177-billion debt, rice wastage, inability to help farmers, alleged anomalies in rice importation, local purchases, contracting of services and selling.

“We face a daunting task. Given the many problems we have inherited, we must now try to reenergize and re-tool our agency,” Banayo told reporters.

A management audit will make sure that the NFA will function according to its mandate, he added.

Among others, the audit team will study NFA’s inventory system to prevent waste and spoilage of stocks, and the methods and procedures of selling stocks.

Banayo also said the audit team will check why the past administration had to excessively import rice.

In his State of the Nation Address on Monday, President Benigno Aquino III alleged that NFA overbought the commodity to fill in the demand-supply gap, but this did not benefit the public.

In the process, the NFA incurred debts amounting to P171.6 billion, he said.

Banayo said the audit team will be headed by Jesus Posadas, former vice president of purchasing and trading of San Miguel Corp.

The audit team will also have lawyers and financial experts./PN