APART from recognizing the contribution of Dolores, Quezon to spur growth of the country’s agricultural industry, Senator Cynthia Villar also extolled the gains of the coconut levy fund.
Speaking during the inauguration and blessing of the new city hall of Dolores last July 22, Villar noted that 80 percent of the town’s residents were engaged in agriculture.
She expressed gratitude to the people of Dolores for contributing to the production of various fruit-bearing trees like rambutan, citrus and lanzones, and vegetables like chilies, cabbage, tomato, and eggplant, among others.
According to the senator, she has also been authoring and sponsoring legislation to develop the agriculture industry and uplift the lives of Filipino farmers and shareholders.
She cited former President Rodrigo Duterte’s enactment of Republic Act No. 11524, or the “Coconut Farmers and Industry Trust Fund Act”
The law that created the Coconut Farmers and Industry Trust Fund (CFITF) ensures the funding of P80 billion for the next five years. This will benefit 2.5 million coconut farmers and the coconut industry in general.
“The law also mandated for the preparation of the CFIDP which would set the directions and policies for the development and rehabilitation of the coconut industry within 50 years,” she added.
The utilization of the Trust Fund, she said, will be in accordance with the formulated plan.
It shall also take into account the annual allocation of the Trust Fund provided for by the law, broken down into 20 percent for the development of hybrid coconut seed farms, and nursery for planting and replanting; eight percent for the training of farmers and their families; five percent for research, marketing, and promotion; four percent for crop insurance; 10 percent for farm implements; 10 percent for shared facilities for processing; five percent for the organization and empowerment of coconut farmer cooperatives; 10 percent for the bank credit programs; 10 percent for the infrastructure development; eight percent for the college scholarships the for farmers and their families; and 10 percent for health and medical programs.
“This marked the fulfillment of ex-President Duterte’s promise to return the coco levy funds to their true and rightful owners – the coconut farmers,” Villar said.