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Moratorium on land amortization payments will assist more than 500K farmers.
More than 500,000 agrarian reform beneficiaries (ARBs), according to Agrarian Reform Secretary Conrado Estrella III, are anticipated to gain from the one-year suspension of the payment of land amortization and the related 6 percent yearly interest.
According to Estrella, a total of 1.18 million hectares of agricultural lands issued to 654,000 ARBs are covered by the suspension on amortization and interest payments.
According to a news release from Estrella on Sunday, “this should be of tremendous help to our beneficiaries because they can use the money allocated for the payment of annual amortization and interest for farm inputs or other livelihood activities to supplement their income.”
“The financial obligation to pay the total cost of the land and the six-percent interest under Presidential Decree No. 27, series of 1972 or the “Operation Land Transfer,” as well as the principal value of the 30-year land amortization under Section 26 of the Republic Act No. 6657 or the Comprehensive Agrarian Reform Law,” according to Estrella.
The ban on amortization and interest payments was announced by President Ferdinand R. Marcos on July 25, 2022, during his first State of the Nation Address.
Marcos was cited as saying, “It’s time to give back to the farmers,” on September 13, 2022, during the signing of Executive Order No. 4.
A moratorium, according to Marcos, “would enable the farmers to direct their resources toward expanding their farms, maximizing their potential to produce, and accelerating the growth of the economy.”
a CLOA award
The Department of Agrarian Reform (DAR) distributed certificates of landownership award in Negros Occidental, making at least 86 farmers from the province instant proprietors (CLOAs).
The project is based on Estrella’s order to give all farmers in the nation more power.
A total of 36 agrarian reform beneficiaries (ARBs) received distributions of about 13.39 hectares of agricultural land from Enrique B. Magalona town, seven hectares from the town of Manapla, and 17 hectares from Silay City.
Shiela Enciso, the regional director for Western Visayas, stated in her message that the CLOAs they get is proof that they are now the legal owners of the property they have been cultivating for years.
“Our staff members devoted long days and nights to confirming and locating the legitimate owners of these lands. Since you have worked so hard and with such devotion to cultivating these lands, you have been chosen as their proper owners. Make it work harder now that it’s yours, she said.
Enciso continued by saying that the DAR would give the ARBs the assistance they require to maintain their economic viability and productivity.
Please keep in mind your rights, obligations, and tasks as new property owners. Avoid entering into leasehold contracts and keep developing the land so that it might assist you in improving your financial situation, she said.
In order to distribute agricultural landholdings to tenants, farmers, farmworkers, and other tillers who have been identified as qualified ARBs, the DAR is required to purchase both public and private agricultural landholdings. These distributions will take the form of CLOAs that cover one contiguous tract or multiple parcels of land cumulated up to a maximum of three hectares per ARB.
Cebuano English Filipino
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