Senate ratifies P105-B coco levy fund 22 SHARES Share it! In its session Wednesday, the Upper Chamber adopted the new final version of the proposed Coconut Farmers and Industry Development Act which would facilitate the release of the coco levy fund collected from farmers during the administration of the late President Ferdinand Marcos. Under the second version of the coco levy bill, Villar said farmers will annually receive P5 billion of the coconut trust fund for 25 years. A consolidation of Senate Bill 1998 and house Bill 7735, the proposed rice tariffication law, would lift the quantitative restrictions on rice imports and impose tariffs in its stead. Under the bill, a Rice Competitiveness Enhancement Fund (RCEF) of at least P10 billion will be allocated annually for the local rice industry.

Source: Manila Bulletin November 30, 2018 16:29 UTC