LOOK: Copy of EO imposing moratorium on CARP payments
INQUIRER FILE PHOTO
MANILA, Philippines — Here is a full copy of Executive Order No. 4 signed by President Ferdinand “Bongbong” Marcos Jr. on Tuesday — his 65th birthday — which places a one-year moratorium on the amortization and interest payments of agrarian reform beneficiaries.
READ: Executive Order No. 4
Under EO No. 4, the beneficiaries can skip paying the annual amortization and the 6 percent yearly interest required of them under the Comprehensive Agrarian Reform Law (CARP).
The beneficiaries are required to pay a specified amount to the Land Bank of the Philippines, but the EO gives them reprieve considering the COVID-19 pandemic and other global events that disrupted the production of crops.
Around 654,000 beneficiaries are expected to benefit from the order.
Article continues after this advertisementThe Department of Agrarian Reform said that this was also a step closer to the president’s promise of to fully condone the existing agrarian reform loans amounting to P58.12 billion.
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