The regional office of the Philippine Coconut Authority (PCA 11) has launched the Regional Coconut Farmers and Industry Development Plan.
Juvy T. Alayon, regional manager III of PCA 11, said the plan will be the implementing guide for the implementation of Republic Act No. 11524, or the Coconut Farmers and Industry Trust Fund Act (CFITF), that was signed into law by former President Rodrigo Duterte last February 26, 2021.
The law will pave way for the efficient use of the multi-billion-peso coconut levy to uplift the livelihood of millions of farmers and sustain the development of the country’s coconut industry.
“The region is now ready to implement the plan for five years. The plan is for the utilization of the coco levy funds which was withheld at the Bureau of Treasury for decades already,” Alayon told media during this week’s Kapehan sa Dabaw.
The RA 11524 directs the Bureau of Treasury to transfer from the accumulated coconut levy at least P75 billion in the next five years to the CFITF: P10B each this year and in 2022; P15B each on 2023 and 2024; and P25B in 2025 plus any amount accruing, including interest of the coconut levy, in the special account in the general fund.
Alayon said the five-year plan includes the social protection for the coconut farmers, coconut farmers organization and development, hybridization, farm rehabilitation and improvement, integrated coconut processing and downstream products, shared service facilities, innovative research project, practical application on coconut processing, production and distribution, and support services.
“Ito ang kabuuan ng ating industry development plan which will be implemented by 15 implementing agencies,” Alayon said.
