MANILA, Philippines – President Rodrigo Duterte vetoed the coco levy fund bill because it lacked “vital safeguards” to avoid past mistakes and “may be violative of the Constitution.”Last week, the Palace confirmed that Duterte vetoed the measure seeking to create a P100-billion trust fund for coconut farmers. ADVERTISEMENTREAD: Duterte vetoes coco levy fund billDuterte explained his reasons for vetoing the measure in a letter addressed sent to the House Representatives last Thursday, Feb. 14. The broad powers given to the Philippine Coconut Authority (PCA), the President said, also “undermine” relevant regulations and safeguards from abuses. He said the provisions do not reflect the Palace’s goal of “accelerating the full utilization of coco levy assets and funds” for marginalized coconut farmers and the coconut industry. Nevertheless, Duterte said he hoped Malacañang and Congress would continue to work together to make a bill that would be acceptable to all.

Source: Philippine Daily Inquirer February 18, 2019 03:11 UTC