Coco levy fund to be handled by PCA
The Senate wants the disbursement of the P76-billlion controversial coco levy fund collected from them since the Marcos administration to be handled by the Philippine Coconut Authority (PCA).
This, after they approved on second reading the coconut levy trust fund bill.
Voting 12-3, majority of the senators favored the amendment of Sen. Ralph Recto of the Senate Bill No. 1223, who moved to leave the disbursement of the coco levy fund to PCA Board.
The board will then be expanded to 11 members, six of which shall be occupied by farmers.
The Senate also voted to accept Recto’s proposal to include the coco levy fund in the annual General Appropriations Act (GAA).