Gov't sets aside $50.8 M to revive manufacturing sector

MANILA, Philippines (Xinhua) - The government has allotted P2.3 billion ($50.8 million) in the 2014 national budget to fund a program aimed at reviving the manufacturing sector, a senior government official said today.

Trade Undersecretary Adrian Cristobal said the Department of Trade and Industry (DTI) will lead the resurgence program which will also involve the Departments of Science and Technology, Labor and Employment, and Energy.

"The budget will be allotted to these agencies where a converging program to develop manufacturing will be designed and carried out," said Cristobal.

He said the money will also be used to revive the Industry Development Council, the official policy-making body of the DTI, this year.