Make clean break with previous illegal practices, coco farmers ask Digong

A RECENT gathering of regional leaders belonging to the Confederation of Coconut Farmers’ Organizations of the Philippines (CCFOP) asked President Duterte to veer away from the criminal habit of the previous administration regarding the disposal of coco levy funds. What the Aquino regime did on Oct. 5, 2012 was unabashed criminal hijacking of P56.4 billion of coco levy funds into the general funds, according to Ka Charlie Avila of CCFOP. He said that the new government should really have an in-depth look into this.

The Supreme Court had ordered a month earlier that the net dividend earnings and redemption proceeds from the farmers’ investments in San Miguel Corp. shall be deposited with the Land Bank of the Philippines or the Development Bank of the Philippines or the United Coconut Planters Bank as an escrow account in the name of “PCGG in trust for CIIF 14 Holding Companies” (GR 178193, Sept. 4, 2012). CIIF refers to Coconut Industry Investment Funds.