Bicam approves coco levy fund bill anew

The bicameral conference committee approved on Thursday the coco levy fund bill anew, more than a month after the Congress has recalled the already ratified bill to prevent a possible veto from President Rodrigo Duterte.

Earlier, Senate Majority Leader Juan Miguel Zubiri said that the Palace had issues with the bill aiming to provide P100-billion coconut levy trust fund, particularly the composition of the council that will manage the fund, and the lack of sunset provision for the P10-billion funding for coconut farmers.

He said the Palace wants more government offices than farmer representatives to compose the Philippine Coconut Authority board, which will manage the fund.

READ: Congress recalls coco levy bill

Senator Cynthia Villar, chair of the Senate Committee on Agriculture and Food, said the second version of the bill approved by the bicam would most likely get the green light from the President this time.

“Hindi na [ma-ve-veto]. Naayos nang lahat [ng issues],” she told reporters.

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.

Six farmer representatives will meanwhile compose the board, including two each from Luzon, Visayas, and Mindanao. Another representative from the private sector will also be included, composing the total of 15 representations in the council.

Villar said the P10-billion fund had been retained in the second version of the bill approved by the bicam.

“’Yung mga coconut farmers, ibibigay na sa kanila ang coco levy fund at the rate of P5 billion a year for the next 25 years. Iyong industry naman pumayag na silang mag-allocate ng P10 billion a year for the benefit of the coconut industry. Naka-earmark na kung saan dadalhin,” she said.