Bongbong’s ‘best’ birthday gift
An estimated 1.173 million hectares of land are covered by the condonation, which will help 610,054 ARBs who owe an estimated P57.55 billion in unpaid amortizations
Daily TribuneAn estimated 1.173 million hectares of land are covered by the condonation, which will help 610,054 ARBs who owe an estimated P57.55 billion in unpaid amortizations
President Ferdinand R. Marcos Jr. on Tuesday pressed the Department of Agrarian Reform for the immediate implementation of Republic Act 11953, or the New Agrarian Reform Emancipation Act.
Marcos gave the DAR the marching order during the Implementing Rules and Regulation of RA 11953 presentation at the DAR central office in Quezon City.
Passed on 9 July 2023, the law condones all loans, including interest, penalties, and surcharges incurred by agrarian reform beneficiaries, or ARBs, from the land awarded to them.
The condonation covers an estimated 1.173 million hectares of land, which will help 610,054 ARBs who owe an estimated P57.55 billion in unpaid amortizations.
The DAR was urged by Marcos to "strive for a smooth and prompt execution of this IRR so that our beneficiaries may be freed from the weight of debts and reap the benefits of the land that they diligently cultivate."
To help the ARBs "lead more dignified lives and attain food security for our people," he assured them of the government's continued support.
Marcos also signed an executive order extending the moratorium on the payment of the principal obligation and interest of the amortization due and payable by ARBs for the land awarded to them.
New EO
The new EO, presented by Marcos during the event, extends the agrarian debt moratorium under EO 4 issued on 13 September 2022 for another two years, or until 13 September 2025.
Marcos said he considered the issuance of the IRR of RA 11953 his "best" birthday gift.
"As we chart a path towards a more self-sufficient and equitable Philippines, this administration reaffirms its commitment to enrich the lives of our farmers, ensure the rapid industrialization of our farmlands, and promote sustainable and inclusive growth in the countryside," he said.
