3,500 Tarlac ARBs to receive debt condonation certificates from PBBM

Department of Agrarian Reform (DAR) Secretary Conrado M. Estrella III on Sunday reported that President Ferdinand "Bongbong" Marcos, Jr. is set to hand 4,663 Certificates of Condonation with Release of Mortgage (COCROM) directly to 3,500 agrarian reform beneficiaries (ARBs) of the Province of Tarlac at the Eduardo Cojuangco Gymnasium, Paniqui, Tarlac on 30 September 2024.

Estrella said this is in full realization of Republic Act No. 11953 or the New Agrarian Emancipation Act where a total debt amounting to P124 million would be condoned for the 3,500 ARBs receiving the 4,663 COCROMs which cover 4,132.1256 hectares of agricultural land, following the provisions of RA 11953.

“The distribution of these certificates is not just about relieving debt that they have carried for years, but also empowering farmers to fully maximize their land's productivity and improving their lives as Filipino farmers,” Estrella emphasized.

DAR Central Luzon Regional Director James Arsenio Ponce further disclosed that this scheduled distribution of COCROMs in Tarlac marks the third time such an initiative has been undertaken in the Central Luzon region, with previous distributions in the provinces of Nueva Ecija and Bulacan.