Farmers to lose P15B in case on coco levy
The demand for transparency in a government-sequestered bank’s bid to claim ownership of at least P15 billion in coco levy funds is growing.
In a statement, Benny Abante, former congressman and chair of the House committee on information, said transparency becomes a more pressing concern on cases for the United Coconut Planters Bank (UCPB) being handled by the law firm of one of its directors.
Congress, said Abante, should not allow the apparent conflict of interest to go past its scrutiny.
“I urge my former colleagues to look into this as it involves public interest of the highest magnitude,” said Abante.
“We have already lost P10 billion in the pork barrel scam. And if reports are true, our people are about to lose another P15 billion worth of coco levy fund—a significant percentage of what our farmers have fought to recover over four decades,” he said.
UCPB has filed two cases in Makati courts to claim ownership of more than P15 billion of at least P70 billion in coco levy funds that had been declared public funds by the Supreme Court.
Militant groups in Quezon are also demanding that those behind the move be removed from their positions—Delfin Mallari Jr.
