MANILA, Philippines — The House of Representatives on Wednesday approved on second reading a refiled bill seeking to create the coco levy fund, a trust fund worth billions of pesos for coconut farmers and for the development of the coconut industry. READ: Duterte vetoes coco levy fund billADVERTISEMENTPresident Rodrigo Duterte earlier vetoed the original measure which Congress had approved, saying it lacked “vital safeguards” to avoid past mistakes and “may be violative of the Constitution.” The previous versions were Senate Bill No. 1233 and House Bill No. READ: Duterte explains veto: Coco levy bill lacks ‘vital safeguards’The refiled coco levy fund bill, House Bill No. It seeks to create a P10 billion “jumpstart fund” to be used exclusively for the benefit of coconut farmers and the coconut industry.

Source: Philippine Daily Inquirer May 22, 2019 11:06 UTC