Push Admin

Gov't abolishes Ilocos-based tomato processing firm

Article (news)

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Officials visit the Northern Foods Corporation in Sarrat, Ilocos Norte, Sept. 26, 2020. Department of Agriculture website/File " src="https://sa.kapamilya.com/absnews/abscbnnews/media/2021/news/12/03/northern-foods-corporation.jpeg"/><figcaption>Officials visit the Northern Foods Corporation in Sarrat, Ilocos Norte, Sept. 26, 2020. Department of Agriculture website/File </figcaption></figure></div><p>MANILA — Government this week abolished food processing center Northern Foods Corporation (NFC), according to a document that Malacañang released on Friday. </p><p>Incorporated in 1984, the NFC aimed to provide alternative livelihood to Ilocano farmers. </p><p>“The NFC is not producing the desired outcomes and not cost efficient and does not generate the level of social, physical, and economic returns vis-a-vis the resource inputs,” Executive Secretary Salvador Medialdea said in Memorandum Order No 58. </p><p>He added that NFCs activities are “best carried out by the private sector.”</p><p>“The NFC is hereby abolished,” ordered the memo. </p><p>A technical working group was tasked to liquidate the firm&#x27;s assets and resolve issues on the transfer of its equity investment to the Land Bank of the Philippines.</p><p>The memo also authorized the grant of separation pay to NFC officials and personnel. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/spotlight/03/02/21/what-japan-trained-farmer-sees-in-future-of-philippine-agriculture">What Japan-trained farmer sees in future of Philippine agriculture</a></li>	<li><a href="https://news.abs-cbn.com/business/11/04/21/joblessness-in-farms-also-due-to-imports-agri-group">Agri group says high unemployment in sector not just due to storms, but also imports</a></li></ul><div><strong>FROM THE ARCHIVES: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1850117" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Government this week abolished food processing center Northern Foods Corporation (NFC), according to a document that Malacañang released on Friday. 