Philippines: Lapid wants to condone unpaid amortizations of lands awarded to agrarian reform beneficiaries

PHILIPPINES, August 17 - Press Release
August 17, 2022

LAPID WANTS TO CONDONE UNPAID AMORTIZATIONS OF LANDS AWARDED TO AGRARIAN REFORM BENEFICIARIES

Pinuno Senator Manuel "Lito" Lapid has filed a measure urging the Senate to condone the present outstanding loans of agrarian reform beneficiaries, saying it will ensure the recovery of farmers and aid in overcoming the fallout of COVID-19 crisis, slow economic growth and escalating wars.

Lapid said that the proposed measure will write off the beneficiaries'

current unpaid amortization and interest payments.

"Tayo, bilang mga pinuno, ay dapat gawin ang lahat ng ating makakaya upang mabawasan ang mga pasanin ng ating mga kapwa Pilipino sa mga panahong ito ng pagsubok. Kung maipasa itong panukalang batas na ito, madami sa ating mga magsasaka ang mabibigyan ng pagkakataon na makabawi mula sa mga pasakit na dala ng pandemya at ng iba pang mga kadahilanan sa pagkakaroon ng mahinang ani," Lapid expressed. Furthermore, Lapid said that condoning their land amortization will provide the farmers the much-needed financial resources to develop their farms, increase their productivity and help our country advance an agriculture driven economy. In the end, it desires to improve the lives of farmers, reduce poverty, accelerate rural development and promote food security.

"Kung maalis sa ating mga magsasaka ang kanilang mga loans at interes na kaakibat nito, mabibigyan natin sila ng karampatang tulong upang mapaunlad ang kanilang mga sakahan, mapataas ang kanilang pagiging produktibo at matutulungan natin silang isulong ang agrikultura sa ating bansa. Bukod pa rito, kung maisabatas ang panukalang ito, mapapabuti ang buhay ng mga magsasaka, mababawasan ang kahirapan, at mahihikayat ang pag-unlad sa kanayunan at ang pagtataguyod ang seguridad sa pagkain sa Pilipinas," Lapid added.

Under Senate Bill No. 1179, all unpaid interest, penalties, surcharges on loans and amortizations due from farmer-beneficiaries are condoned by the Government, thereby relieving all farmer-beneficiaries from the payment thereof. Further, the agrarian reform beneficiaries shall be deemed to have completed payment and are hereby authorized to perform all the remaining acts necessary to establish full ownership of the lands awarded to them.