The House Committee on Agriculture and Food has passed a measure seeking to convert coconut levy (coco levy) fund assets into a trust fund to be used for projects benefitting the country’s coconut farmers.
Rep. Jose Panganiban Jr. of ANAC-IP party-list, chairman of the panel and one of the authors of the measure, said that the bill is in accordance with the 2012 ruling of the Supreme Court that declared certain assets acquired using coco levy funds as government-owned and should be used for the benefit of coconut farmers and the development of the coconut industry.
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