(MB FILE, Keith Bacongco)
According to the agriculture chief, the enactment of the law will pave way for the efficient use of the P100-billion coconut levy fund to uplift the livelihood of millions of farmers and sustain the development of the country’s coconut industry.
“On behalf of millions of coconut farmers and their families, we thank President Rodrigo Roa Duterte and our distinguished legislators for their continued guidance and strong support to revitalize the coconut industry,” Dar said.
Dar’s statement came after KILUS Magniniyog (KM), composed of thousands of coconut farmers, accepted the law’s passing “with deepest grief.”
Published February 9, 2021, 5:30 PM
The proposed Coconut Farmers and Industry Trust Fund Act or Coco Levy Act, which will pave the way for the release of the P100-billion coco levy fund, is just awaiting the signature of President Rodrigo Duterte.
Business Bulletin learned that the copy of the Coco Levy Act has already been sent to Malacañang Palace.
(MB FILE, Keith Bacongco)
This was after weeks since House decided to adopt Senate Bill (SB) 1396 as an amendment to House Bill (HB) 8136, which will both pave the way for the release of the coco levy fund the taxes imposed on coconut farmers by the Marcos administration and its cronies more than 40 years ago.
Published December 14, 2020, 5:00 AM
Coconut farmers are questioning some provisions of the Coconut Farmers and Industry Trust Fund Act (Coco Levy Act) such as the annual allocation of portions of the P100-billion coco levy fund to several government agencies, some of which have had no participation in coconut industry development at all.
In a press briefing, Joey Faustino, leader of the Coconut Industry Reform Movement, said coconut farmers are appealing to junk the Senate Bill (SB) 1396 or the Coco Levy Act in fear that they may totally lose the chance to benefit from the P100-billion coco levy fund, which came from the taxes imposed on coconut farmers by the Marcos administration and its cronies from 1972 to 1981.