Speaker Gloria Macapagal Arroyo has acknowledged the importance of cooperatives in uplifting the lives of Filipinos.
In commemoration of Cooperative Month, Arroyo attended as guest of honor of the Gawad Galing Kooperatiba Awards 2018 in Malolos, Bulacan Wednesday to show support for the efforts to recognize Bulacan as the Cooperative Capital of the Philippines.
Arroyo lauded the strength of the cooperative industry in tahe province, noting that Bulacan has several cooperatives and that a significant number of Bulaceños are members.
Arroyo was elated by the fact that Bulaceños have managed to build about 800 cooperatives, where majority of the locals are members.
In light of the booming industry, Rep. Jose Antonio Sy-Alvarado of Bulacan expressed hope the leadership of the House of Representatives will support his House Bill 8285 declaring Bulacan as the “Cooperative Capital of the Philippines.”
Sy-Alvarado was with Arroyo during the event.
The bill, which Arroyo noted had received the endorsement of the Cooperative Development Authority (CDA), states that Bulacan has the greatest number of registered cooperatives and immense amount of combined assets of cooperatives in the country based on the records of the CDA.
In addition, it has remained in the top five of all success indicators since cooperatives started in the country.
“The Bulacan provincial government has always been an advocate of strengthening the viability and growth of the cooperative as a valuable partner in economic development and nation building,” Alvarado said in the bill’s explanatory note.
HB 8285 comes on the heels of measures that have sought to recognize cooperatives and advocating for their rights.
In 2003, Arroyo signed Presidential Proclamation 493 during her presidency, declaring October as “Cooperative Month.” Maricel V. Cruz
Also enacted during her term was Republic Act 9520, the Philippine Cooperative Code of 2008, which addresses the challenges faced by cooperatives such as ineffective and unprofessional management, lack of transparency, and unfair taxes.
“I am happy to see the results of the Cooperative Code of 2008 which indeed strengthens the country’s cooperatives,” Arroyo said, pointing to the improved management and opportunity for self-assessment that resulted from the enactment of the law.
Moreover, Arroyo advised prospective members to seek out successful cooperatives instead of establishing a new one.
She added the objective of cooperatives should not be to borrow, but to shore up savings.
The Gawad Galing Kooperatiba Awards is an annual event that seeks to recognize the top-performing Bulacan cooperatives and reward their contributions to the community.