The Department of Agrarian Reform (DAR) in Western Visayas supports the plan of President Ferdinand “Bongbong” Marcos Jr. to provide a one-year moratorium on payment of amortization by agrarian reform beneficiaries (ARBs).
“It will not only allay the burden for farmer-beneficiaries, but also it will help them to focus their resources in procuring farm inputs like fertilizers, seeds, planting materials, and farm machinery,” DAR Western Visayas Regional Director Sheila Enciso said in a text message.
The President in his first State of the Nation Address on Monday expressed his intention to issue an executive order for a one-year moratorium on the payment of land amortization and interest payments.
He added that Congress must also pass a law that will free ARBs from debt by amending Section 26 of Republic Act 6657 or the Comprehensive Agrarian Reform Law of 1988.
“In this law the loans of agrarian reform beneficiaries with unpaid amortization and interest shall be condoned,” the President said.
He added that the condonation of the agrarian reform loan entails PHP58.125 billion which will benefit 654,000 ARBs covering 1.18 million hectares of awarded lands
Source: Philippines News Agency
