President Rodrigo Duterte has signed an executive order approving the development plan for the coconut industry that would pave the way for the release of a P75-billion trust fund for coconut farmers from coco levy assets.
Under EO 172, Duterte approved the Coconut Farmers and Industry Development Plan (CFIDP) aimed at boosting the competitiveness of coconut farmers in the country.
“There is a need to approve the Coconut Farmers and Industry Development Plan to increase overall productivity and income of coconut farmers, alleviate poverty, and achieve the twin objectives of rehabilitating and modernizing the coconut industry to attain social equity,” Duterte said in the EO.
EO 172 mandates the Philippine Coconut Authority (PCA), along with other concerned government agencies, to implement the CFIDP.
“The CFIDP shall be reviewed annually to ensure its effective implementation, taking into consideration the absorptive capacity and performance of implementing agencies, as well as the outputs and outcomes of programs based on key performance indicators,” the order read.
The funds needed for the programs under the CFIDP will be taken from the Coconut Farmers and Industry Trust Fund as well as from the regular appropriations of implementing agencies.
The Coconut Farmers and Industry Trust Fund shall be “separate and distinct from the regular funds appropriated to the PCA,” the EO said.
“In this regard, the PCA, together with other implementing agencies, shall continue to pursue their mandates of implementing programs and projects for the development of the coconut industry, from their respective regular appropriations and from funds under the Trust Fund,” the order said.
The PCA, in consultation with concerned agencies and stakeholders, is also tasked to revisit and update the CFIDP every five years, subject to the President’s approval, to ensure that strategies and programs are “responsive to evolving industry needs,” according to the EO.
