Senate to probe planned sale of FTI

MANILA, Philippines -  The Senate committee on agriculture and food will conduct an inquiry today into the status of the 120-hectare Food Terminal Inc. (FTI) in Taguig City, including its proposed privatization.

Senator Francis Pangilinan, chairman of the committee, earlier raised his objection to the planned sale of FTI, which has already generated some interest from the private sector.

Finance Secretary Cesar Purisima said the government has set a floor price of P13 billion for the property and a private developer offered to buy it for P19 billion.

Pangilinan urged Purisima to reconsider the sale of FTI, saying it could still be used to ensure food security in Metro Manila.

“We are making great headway, as far as public-private partnerships are concerned, in addressing the myriad issues that threaten food security in the country,” Pangilinan said.

“Government should reconsider the sale of the entire property in light of the critical effort at achieving food security and access to markets,” he added.

Pangilinan noted that FTI was established to have a food terminal where farmers can drop off their produce so as to bypass the middlemen and allow them to go direct to the market.

“The biggest market locally is Metro Manila and direct access to that market would mean better prices for the consumer and higher incomes for a sector that remains poor,” he said.

The property has been in the market since the Arroyo administration. 

“Let’s look at the objectives of selling the property. If it is for the benefit of the agricultural sector then funds should be used to strengthen the capability of FTI in its role of providing access to markets. Let’s look for other, more creative solutions to retool the FTI. Market access is key to upping our farmers’ income,” Pangilinan said.