All loans including interests, penalties and surcharges, due from P14.62 billion loans arising from the award of agriculture lands under the Comprehensive Agrarian Reform Program (CARP) as of December 31,2022 should be condoned.
Cynthia A. Villar, chairman of the Senate agriculture, food and agrar
Senator Cynthia Villar(File photo) MANILA-Senator Cynthia Villar on Wednesday delivered Committee Report No. 24 to sponsor the Senate Bill No. (SBN) 1850 or the "New Agrarian Emancipation Act", which seeks to condone all loans including interests, penalties and surcharges, arising from the award of agriculture lands under the Comprehensive Agrarian Reform Program (CARP) as of Dec. 31, 2022. Villar, who chairs the Senate Committee on Agriculture, Food, and Agrarian Reform, said the measure shall cover two types of loans to agrarian reform beneficiaries (ARBs), which include those who have Agrarian Reform Receivables (ARR) Account with the Land Bank of the Philippines and have not paid or have incomplete payments of their amortization on the principal, interests, penalties and surcharges of their lands under Presidential Decree 27, and subsequent amendments to RA 6657. "This involves 409,206.91 hectares of agricultural land with 273,622. Debt Amounting to: PHP14,499,890,62
Press Release - Sponsorship Speech of Senator Cynthia Villar On Committee Report No.24 senate.gov.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from senate.gov.ph Daily Mail and Mail on Sunday newspapers.
Marginalized farmers and fisherfolk stand to get financial relief from the government to settle their unpaid loans through a bill passed on third and final reading by the House of Representatives.
With 271 affirmative votes, the measure mandating full insurance coverage to farmer-beneficiaries of the Comprehensive Agrarian Reform Program (CARP) during natural calamities was passed on third and final reading on Tuesday, Jan. 31.
(MANILA BULLETIN)
Approved during Tuesday's