Quantcast
Latest Stories

Palace to coco farmers: Be patient

By

Deputy presidential spokesperson Abigail Valte. INQUIRER FILE PHOTO

Coconut farmers may have to wait a little longer for President Aquino to come up with a clear-cut policy on the disposition of the P70-billion recovered coco levy fund assets.

The presidential task force on the coco levy was still finalizing Tuesday its recommendations to the President concerning the custody and utilization of the funds, deputy presidential spokesperson Abigail Valte said Tuesday.

The disposition of the coco levy funds was a complex issue that involves many stakeholders, so that all possible solutions are being explored, she said.

“Just because we are not saying anything doesn’t mean we’re not doing anything. It’s difficult at this point because there are many groups invested in the issue,” Valte said at a press briefing.

Coconut farmers’ groups are demanding that the P70 billion in recovered coco levy fund assets that were used to buy a 24-percent stake in San Miguel Corp. (SMC) be “returned” to them. They have been critical of Mr. Aquino’s continuing silence on the issue.

Valte could not say if the farmers would get an answer from the President before the year ends.

“The task force is aware of the pendency of this issue and they are working to the best of their abilities to make sure that all issues are answered,” she said.

She said the task force, convened in December 2011, was to have reconvened last Oct. 5 to finalize their recommendations in the light of the Supreme Court final ruling on the ownership of a 24-percent block of SMC shares.

The 24-percent block was part of a  47-percent block of SMC shares sequestered by the Presidential Commission on Good Government (PCGG) on the ground that these were illegally acquired by the dummies of the dictator Ferdinand Marcos using funds from a forced tax imposed on coconut farmers from 1973 to the 1980s.

The Supreme Court has ruled that the 24 percent (originally 27 percent but diluted and reduced because of SMC’s expansion) belonged to the government in trust for the country’s coconut farmers.

But the high court ruled that the remaining 20-percent block claimed by businessman Eduardo Cojuangco had been legally acquired by the crony that Marcos had appointed as administrator of the levy funds.

Coconut farmers’ organizations in Quezon province yesterday said they are asking for only one Christmas gift from Mr.  Aquino, that he resolve the issue of the coco levy funds in their favor.

“We want to hear him (Aquino) declare his plans for the P70-billion coco levy fund and how he will use it for the benefit of the coconut farmers. His favorable declaration will be his best Christmas gift for the more than three million coconut farmers across the country,”  said Jansept Geronimo, secretary general of Coalition of Coconut Farmers of Quezon (Coco-Farm-Quezon), the biggest coalition of coconut farmers’ organizations in the province. With Daniel Mallari, Inquirer Southern Luzon


Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Agriculture , Benigno Aquino , Coco Levy Fund , Government , San Miguel Corp.




Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. 12 senators on Napoles ‘pork’ list, says Lacson
  2. Save the queen? Aide takes fall for Enrile, Gigi Reyes
  3. Palace prepared to charge its allies
  4. Senator’s kickback from pork bigger than those of Enrile, Estrada, Revilla – Lacson
  5. Napoles turnaround alarms whistle-blowers
  6. What Went Before: Malacañang allies alleged involvement in pork scam
  7. Napoles spills beans on Enrile, Estrada, Revilla – De Lima
  8. Timeline: Napoles tell-all
  9. HK apology: Why Estrada and not Aquino?
  10. Cedric Lee’s cohort flies out of PH despite look-out order – De Lima
  1. Napoles spills beans on Enrile, Estrada, Revilla – De Lima
  2. 12 senators on Napoles ‘pork’ list, says Lacson
  3. Gigi Reyes pins blame on aide
  4. Estrada: Gigi Reyes won’t testify vs JPE
  5. Bernice Lee arrested by NBI team
  6. Enrile chief aide back in PH ‘to face charges’
  7. Cedric Lee’s cohort flies out of PH despite look-out order – De Lima
  8. Suspect in Vhong Navarro’s mauling wants to turn state witness – De Lima
  9. Reckless driver endangered lives of Aquino, entourage–report
  10. Lawyer: Napoles ‘will tell all’
  1. MRT passengers pass the hat for 6-year-old Ashley
  2. Rookie, lady cops lauded for quick response to MOA heist
  3. Napoles spills beans on Enrile, Estrada, Revilla – De Lima
  4. Malaysia averts another air tragedy; pilot lands troubled plane safely
  5. Revilla says he was joking; Lacson stands by his story
  6. Revilla ‘consulted’ Lacson on how he evaded arrest
  7. 12 senators on Napoles ‘pork’ list, says Lacson
  8. Gigi Reyes pins blame on aide
  9. Cudia, dismissed for lying, got 99% in conduct
  10. Kim Henares needs a reprimand, says Cayetano
Advertisement

News

  • Ukraine FM: We are ready to fight Russia
  • Slain officer’s ‘diagram’ rocks PNP
  • 2 contractors fined P25,000 for delays in Edsa rehab
  • Luisita beneficiaries take over renters
  • 5 years of hard work pay off for top UP grad
  • Sports

  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • NLEX roars to 7th D-League win
  • Lifestyle

  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Denims that keep you cool–literally
  • 10 essential summer skin savers
  • Here’s your visual guide to all things cool, hot in summer fashion
  • Entertainment

  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • OMB exec’s assurance: We work 24/7
  • Business

  • Bangko Sentral readies new bank lending rules
  • Gaming stocks gain, PSEi eases on profit-taking
  • Cebu Pacific flew 3.74M passengers as of March
  • Corporate bonds sweeteners
  • Professionals in the family business
  • Technology

  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • Afghan hospital guard kills 3 American doctors
  • Career diplomat is new PH consul general in Los Angeles
  • US4GG: Aquino should ask Obama for TPS approval, drone technology
  • Complex health care system for California’s elderly and poor explained
  • Tiff with HK over Luneta hostage fiasco finally over
  • Marketplace
    Advertisement