[ manilstandardtoday.com ] March 29, 2008
PUERTO PRINCESA, Palawan—The Philippine Economic Zone Authority said farmers and investors could now register their jatropha plantations to avail of government incentives.
Philippine Agricultural Development and Commercial Corp. president Marizz Agbon said PEZA had come up with the guidelines for the accreditation of agro-industrial economic zones. PADCC is an attached agency of the Department of Agriculture.
“These agro-industrial economic zones are devoted to biofuels production including jatropha,” Agbon said.
Jatropha plantations must have a minimum area of five hectares. Once accredited, operators will be entitled to the 5 percent tax on gross income earned in lieu of all national and local taxes (except real property taxes), a four-year income tax holiday and duty -free importation of equipment.
PNOC-Alternative Fuels Corp. chairman Renato Velasco said investors of jatropha plantations and refinery could avail financing from the Land Bank of the Philippines through its P10-billion fund for alternative fuels development.
PNOC-AFC is promoting jatropha as feedstock for biodiesel.
“So far, no one has availed of the lending facility from the bank. Aside from Land Bank of the Philippines, the Development Bank of the Philippines has opened a similar lending facility,” Velasco said. Alena Mae S. Flores
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