Compromise deal on the coco levy fund

The government and coconut farmers around the country are
set to sign an amicable settlement agreement over the controversial
coco levy fund next month in their bid to end a 20-year old legal
battle, officials announced Friday.

Proponents would need to run consultations among a wider group of
coconut farmers over the proposal, to assume a legal clout to convince
the antigraft court, SandiganBayan to allow the coconut farmers to
have the sole claim to the multi-billion peso shares of stock in the
San Miguel Corp. (SMC).

Speaking at the First National Coconut Farmers Convention here Friday,
President Gloria Macapagal Arroyo said that the agreement would be the
way to flow back to the farmers what was due them from the levy fund
if the agreement would be cleared by the proper courts.

The deal was pushed by the Bishops-Ulama-Priests-Pastors-Lumad Conference (BUPPFALUC).

About mindanaw

A Journalist from Mindanao

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