Connect with us

Hi, what are you looking for?

Economy

Senators want to give coconut farmers more time to register

SENATORS want to extend the deadline for the registration of coconut farmers who will benefit from the trust fund law and allow continuing registration for those who will not meet the set date.

The Senate committee on agriculture on Thursday tackled the status of the Coconut Farmers Registry, which under Republic Act No. 11524 or the Coconut Farmers and Industry Trust Fund Act should be completed by the Philippine Coconut Authority (PCA) in 90 days or by June 11.

Senator Risa N. Hontiveros-Baraquel proposed an extension of another 90 days to Sept. 9.

Senator Cynthia A. Villar, chairperson of the committee on agriculture, recommended to altogether lift the deadline and make the registration for the coco levy funds “continuing.”

Registration has reached more than 50% of the around 3.5 million target, Ms. Villar said. “My suggestion is it is a continuing registry since we have achieved ‘yung (the) more than 50% then we can go ahead with our coco levy fund distribution,” she said in the hearing.

Senator Francis N. Pangilinan, meanwhile, suggested maintaining a deadline to compel coconut farmers to register, but would still have continuous registration for those who cannot meet it.

PCA Administrator Benjamin R. Madrigal, Jr. said a total of 2.8 million farmers have been registered as of June 8.

He said this is composed of around 2.5 million farmers on record from 2015 to 2018 and around 315,000 new registrants. About 14,000 of those in the list were undergoing validation.

President Rodrigo R. Duterte in February signed RA 11524 which allows coconut farmers to benefit from the taxes collected from them totaling about P76 billion during the Marcos administration. The law also sought to declare coconut levy assets as trust funds to modernize and rehabilitate the coconut industry. — Vann Marlo M. Villegas

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

Notice of Annual Stockholders’ Meeting Notice is hereby given that the Annual Stockholders Meeting will be held on Thursday, July 15, 2021 at 8:30...

Investing

The boss of Morgan Stanley, one of the biggest banks on Wall Street, has said he will be “very disappointed” if staff are not...

Investing

NHS workers and care home staff will be legally required to have coronavirus vaccinations under plans that have the personal support of Boris Johnson....

Economy

MONEY SENT HOME by migrant Filipino workers jumped by 12.7% in April, the fastest since November 2016 and reflecting the global economic recovery amid...

Economy

By Luz Wendy T. Noble, Reporter ECONOMIC MANAGERS on Tuesday vowed to push economic recovery this year by keeping the coronavirus pandemic under control,...

Economy

By Luz Wendy T. Noble, Reporter PAMELA SAMIA, 54, lost P145,000 after an unauthorized withdrawal from her ATM account in January. “You’d think your...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Economy

THE Securities and Exchange Commission (SEC) has warned the public from investing or to stop any investment in a group named Maxxprofit Computer Trading...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!