Close  

Duterte vetoes coco levy fund bill

/ 10:47 PM February 15, 2019

MANILA, Philippines – President Rodrigo Duterte has vetoed the measure seeking to create a P100-billion trust fund for coconut farmers.

Executive Secretary Salvador Medialdea confirmed this development on Friday.

ADVERTISEMENT

Malacañang, however, has yet explain why Duterte vetoed the bill.

The bill had to go through the bicameral conference committee twice as the Palace raised issues with the composition of the council that will manage the fund, and the lack of sunset provisions for the funding for coconut farmers.

FEATURED STORIES

The Palace wanted more government offices than farmer – representatives to be part of the Philippine Coconut Authority (PCA) board, which will manage the fund.

Under the second bicam-approved version of the bill, the board will now be composed of eight government agencies, including the Department of Agriculture, Department of Finance, Department of Budget and Management, National Economic and Development Authority, Department of Trade and Industry, Landbank and the Development Bank of the Philippines.

Earlier, Duterte also vetoed the bill seeking to strengthen the PCA.

In the letter addressed to the Senate dated February 8, Duterte said the bill “regrettably lacks vital safeguards to avoid the repetition of painful mistakes in the past.” / gsg

READ: Duterte vetoes bill strengthening Philippine Coconut Authority

ADVERTISEMENT
Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Coco Levy Fund, duterte, Local news, Malacañang, Nation, national news, news, Philippine news update, Rodrigo Duterte
For feedback, complaints, or inquiries, contact us.
newsinfo

Philippine hunger rate drops in Q1 2019 — SWS

April 25, 2019 01:50 AM

globalnation

Duterte, Xi to discuss sea row in Beijing meeting

April 25, 2019 01:28 AM

usa

Who is Better: Giannis vs LeBron

April 25, 2019 01:00 AM

usa

What Does CBD Oil Do – Top 7 Benefits?

April 25, 2019 12:58 AM




© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.