Malacañang has explained that President Duterte vetoed the measure that would further strengthen the Philippine Coconut Authority board assigned to manage the coco levy fund because it is vulnerable to corruption like the Road Board which he claimed became a milking cow of corrupt politicians.
Presidential spokesperson Salvador Panelo made the statement after it was reported that Duterte vetoed Senate Bill 1976 and House Bill 8522, an Act to Further Strengthen the Philippine Coconut Authority, amending Presidential Decree No. 1468, otherwise known as Revised Coconut Industry Code, as amended, and Appropriating Funds Therefor.
In his statement late Saturday evening, Panelo welcomed the Legislative branch’s effort to heed Duterte’s call but said the Palace is hoping that lawmakers can craft a better law that will ensure the equitable distribution of the social benefits to the coconut planters and farmers sourced from the coconut levy funds long denied them.
“While the President recognizes and commends the efforts of both Houses for their zealousness and selflessness in passing the measure, it is therefore with a heavy heart that he exercises his veto power…with the thought and confidence that the lawmakers can re-craft one that will provide more safeguards to protect the taxpayers’ money and shield the levy funds from irregular and unlawful use, as well as guarantee its proper management,” he said.
Panelo explained that the veto not only allows lawmakers to craft a better law, but shows Duterte’s resolve in fighting corruption in government. “The veto of the bill will give Congress more time and opportunity to improve the formulation of the PCA and the distribution of coco levy funds,” he said. (Argyll Geducos)
