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Duterte: Give Coco Levy Fund to Farmers and Stop Buying Businesses


welcome By: Elena Grace Flores
In honor of Duterte’s signed manifesto promising coconut farmers to be prioritized for the coco levy funds within his first 100 days in office, the incoming President ordered his chief legal counsel, Salvador Panelo, to make sure that the release of the coconut levy fund to farmers once they assume power will be facilitated.

Agriculture Secretary Manny Piñol of the Duterte administration made this known over social media last June 16, when he posted this announcement via his Facebook account.

The Taxes collected from farmers during the Marcos administration comprised the Coco Levy Fund originally meant to develop the coconut industry but Eduardo “Danding” Cojuangco Jr utilized the chunk of funds to buy businesses like the United Coconut Planters Bank and then a major shareholding at San Miguel Corporation.

Reference: http://www.rappler.com/nation/136577-duterte-panelo-coco-levy-fund-farmers

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