Bill seeks to return P54-B levy funds to coco industry

Los Baños, Laguna: A group of retired government officials and senior members of the academe is almost finished drafting a measure that seeks to return to over 3.4 million coconut farmers and farm workers nationwide their rightful share of the P54 billion coconut levy funds which the Supreme Court earlier ruled as monies belonging to the farmers and the industry.

A senator asked the group to craft the measure to ensure the return of the levy funds to the rightful owners and administrators. The group is hopeful that the measure, once implemented, will rejuvenate the ailing coconut sector through the infusion of the levy funds.