THE House Committee on Appropriations on Wednesday approved the funding provision for the measure seeking to establish the coco levy trust fund, which is expected to benefit farmers and develop the coconut industry.
During its meeting, the panel approved the section of the still-unnumbered substitute bill providing for the budgetary requirements for the creation of the proposed Coco Levy Trust Fund.
House Committee on Agriculture chair Mark Enverga, who sponsored the measure during the meeting, said the use of the trust fund will be in accordance with the Coconut Farmers and Industry Development Plan.
He added that under this plan, directions and policies for the development and rehabilitation of the coconut industry will be set within a period of 99 years, with the goal to increase incomes of coconut farmers, to alleviate poverty and promote social equity, and to rehabilitate and modernize industry towards farm productivity.
“Our coconut farmers are in dire need of help yet the money could not be touched as there has to be a law passed by Congress before it could be used for the purpose it was intended,” Enverga said.(GMA News)
