No conflict between Sandiganbayan ruling and coco levy bill —Cynthia Villar

Senator Cynthia Villar sees no conflict between the anti-graft court ruling that declared the coco levy funds as state-owned and the bicameral conference committee approved bill creating a trust fund for the benefit of coconut farmers.

"There is no conflict between the decision of the Sandiganbayan and the provisions of the law that the Congress passed," Villar, chairman of the Senate committee on agriculture and food, said in a text message sent to GMA News Online on Saturday.

"I really do not see any conflicts. All the money in the fund will really go to the coconut farmers. We made sure of that. It is aimed at lifting coconut farmers, who are among the poorest in the country, out of poverty," the senator said.

An estimated P74 billion worth of assets from the Coconut Industry Investment Fund (CIIF) belong to the government and should be distributed to coconut farmers, the Sandiganbayan has ruled.

It overturned its 2017 decision calling for more hearings on the civil case involving United Coconut Planters Bank (UCPB) and the Coconut Planters Life Assurance Corporation (Cocolife) by granting the government’s motion for reconsideration.

In 2014, the SC ruled with finality on a 2004 decision of the Sandiganbayan that declared the government as owner of the coco levy funds.

The bicameral conference committee approved last week a bill creating a P100-billion coco levy trust fund to be used for 25 years for the benefit of 3.5 million coconut farmers.

"The cash and the assets from Coconut Farmers and Industry Trust Fund amounting to about P105 billion will be distributed to coconut farmers at the rate of P5 billion per year until the fund runs out," Villar said.

"The P5 billion per year will be spent for the following: shared facilities, 30 percent; scholarship, 15 percent; empowerment of coconut farmer organization and their cooperatives, 15 percent; farm improvement to encourage self-sufficiency, 30 percent; and health and medical benefits, 10 percent," the senator said.

On top of the said allocations, the coconut industry will also get P10 billion allocation from the national budget that will be spent for the development of the industry.

"This will be earmarked for the following programs: infrastructure, 20 percent; planting, replanting and establishment of nurseries, 20 percent; intercropping, 10 percent; shared facilities, 20 percent; research and development, disease control and eradication, 10 percent; fertilization, 5 percent; new products and derivatives of cococut oil products, 5 percent; and credit through LandBank of the Philippines and Development Bank of the Philippines, 10 percent," Villar said. —Ted Cordero/KG, GMA News