QUEZON COCONUT FARMERS WELCOME SENATE BILL 2675

Senator Cynthia A. Villar, chairperson of the Senate committee on agriculture told Quezon farmers that she sponsored Senate Bill 2675 also known as the Coconut Farmers and Industry Development Act of 2015, creating a trust fund composed of all coconut levy assets, including those declared by the Supreme Court as special funds.  Villar was the guest of honor of Araw ng Pamilyang Magsasaka (farmers’ family day) assisted by former Quezon Representative Aleta C. Suarez and Quezon Governor David C. Suarez who visited booths of Agri-Tourism Exposition celebrating Niyogyugan Festival 2017 at the Perez Park. 

Villar added that under her bill, all cash assets will become the initial capital to the trust fund. “The proceeds will be remitted to the trust fund, which will be maintained perpetually and can only be invested in Philippine Government Securities.  The Bureau of Treasury will be designated as the depository of the trust fund,” Villar said. She assured the 10,000 Quezon farmers that the interest of the farmers is a priority of her Senate committee.