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Mar to release coco levy funds ASAP

Presidential candidate Manuel A. Roxas II vowed to work for the immediate release of the controversial coco levy funds, saying the continuous delay of its use has already deprived coconut farmers the long-overdue assistance to improve their lives.

Roxas explained that coconut farmers have long waited to partake of the more than P70-billion coco levy funds that remain untouched after the Senate failed to pass the bill that was supposed to have outlined its use in accordance to the law.

“If elected president, I will expedite in responding to the intent of the coco levy which is to provide assistance to coconut farmers and their family,” said Roxas during a visit to Quezon where coconut farming is a livelihood.

Aside from low interest loans to improve and expand their farming, Roxas said he will also push for the allocation of funds for the scholarship programs of their children.

Roxas said part of the fund will be used to assist farmers in modern farming with high-yielding results.

He said a coconut farmer currently earns an average of P40,000 a year. But with modern technique and other assistance, he said the average earnings could balloon to an average of P120,000.