Farmer groups on Thursday lambasted the Department of Finance (DOF) for not involving coconut farmers in the management of the coco levy assets as provided in the draft implementing rules and regulations (IRR) of the Coconut Farmers and Industry Trust Fund Act.
A major issue about the draft IRR was the absence of farmer representatives in the Trust Fund Management Committee—composed of the DOF, Department of Budget and Management (DBM), and the Department of Justice—which would have the power to privatize or dispose of any of the coco levy assets.
Also, only the DOF, as the trust fund manager, can recommend an investment strategy to grow the assets.
The fund wa…
Keep on reading: Farmers want say in coco levy fund management