The Finance Department plans to push for a law that will enable the government to utilize the P74-billion coconut levy for the benefit of coconut farmers and their families.
The move, however, will only push through once the Supreme Court lifted a temporary restraining order on the case.
Finance Secretary Carlos Dominguez III said President Rodrigo Duterte wanted to unlock over P74 billion in coconut levy to help coconut farmers.
Dominguez, who served as agriculture secretary in the administration of the late President Corazon Aquino, said a law was needed so that the money could be used by farmers in coconut-producing areas for support programs and scholarships.
“I’ve discussed this with the president and we believe that legislation is necessary to utilize the coco levy funds for the benefit of farmers in the coconut areas. The coco levy fund right now is a little bit over P74 billion,” Dominguez told Senator Francis Pangilinan in a recent hearing.
“There is a TRO in the Supreme Court and we will have to wait once it is lifted, and he wants to manage the funds but its utilization can only be by law….and I will support using these funds to provide scholarships, maybe in the state schools and colleges in the areas, and of course other kinds of support for the coconut-producing communities,” Dominguez said.
