The Senate and the House of Representatives on Wednesday ratified the bicameral conference committee report condoning the unpaid debt of farmer-beneficiaries of the government’s agrarian reform program. Know more:
THE Senate and the House of Representatives on Wednesday ratified the bicameral conference committee report condoning the unpaid debt of farmer-beneficiaries of the government’s agrarian reform program.
Aside from Villar, the Senate panel to the bicameral committee was composed of Deputy Minority Leader Risa Hontiveros and Sen. Imee Marcos. The bill said the principal loan of P14.5 billion — including interests, penalties and surcharges — of the 263,662 ARBs tilling 409,206.91 hectares of agrarian reform lands, whose names and other loan details were already submitted by the Land Bank of the Philippines to Congress, shall be condoned outright under this proposal.
The bill mandates the LBP and the DAR to submit the detailed list of their actual loans subject for condonation, under the collective Certificate of Land Ownership Awards , together with the loan plus penalties, interests, and surcharges; location; hectarage, and other relevant information, to the concerned committees of the House and Senate within the three-year period from the effectivity of this proposal.
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