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Friday, March 29, 2024

Congress passes measure creating overdue coconut levy trust fund

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The House committee on appropriations has passed a proposed measure seeking to create a coconut industry trust fund.

“It is a very timely and vital measure that would sustain the development of the country’s coconut industry and ensure the welfare of our coconut farmers. After all, it was the coconut farmers who took the burden of the coconut levy. Therefore, they must now reap the benefits of its,” Davao City Rep. Karlo Alexei Nograles said.

He said House Bill No. 5745 was approved by the committee as a substitute bill to the original measures seeking to utilize the coconut levy fund.

He, along with his brother, Puwersa ng Bayaning Atleta Rep. Jericho Nograles, authored HB No. 62 to create a coconut industry trust fund and amend the Coconut Investment Act that established the coconut levy fund.

The substitute measure has already been forwarded to the House committee on rules for plenary debate, he said.

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“The coco levy fund should be used to benefit the coconut industry and its farmers and not to be used for any other purposes as ruled by the Supreme Court,” Nograles said.

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