Last July 7, President Ferdinand R. Marcos Jr. signed the New Agrarian Emancipation Act of 2023, condoning the P58 billion debt of 610,054 farmers, specifically the unpaid amortization, interest, surcharge, and penalties of existing loans of farmers tilling more than 1 million hectares of land.
“Now that our farmers will soon be free of debt, I hope that they will be able to increase their production to at least 100 50-kilo bags per hectare, from the present 60 to 70 cavans. But, of course, the government will have to help along the way,” he added.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solons, various groups hail New Agrarian Emancipation lawOpposition, progressive and pro-administration groups and lawmakers have lauded the signing of the New Agrarian Emancipation Act, as it provides a big relief for ARBs with outstanding debt for the land they tilled. | GabrielLaluINQ
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Agrarian debt relief won't affect gov't revenues—DioknoFinance Secretary Benjamin Diokno said the condonation of all unpaid agrarian debt will have no impact on the government's revenue. manilabulletin
Source: manilabulletin - 🏆 25. / 51 Read more »
Law condoning of agrarian debts won’t result in land-selling – DAR chiefThe new law which will write off loans of more than 600,000 agrarian reform beneficiaries worth over ₱57 billion will not result in a massive selling of agrarian lands, Agrarian Reform Secretary Conrado Estrella III said on Friday.
Source: CNN Philippines - 🏆 13. / 63 Read more »
House to focus on 4 pending bills, says RomualdezAside from passing the government’s budget before the end of the year, the House of Representatives will focus on passing before the end of the year four priority measures that were not enacted before the end of the last congressional session last month.
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Romualdez, Tingog Party-list's MOA with private hospitals bring hope to poor patientsHigh-ranking House of Representatives members have spearheaded the signing of an agreement that would benefit poor patients in Eastern Visayas. | ManilaBulletin
Source: manilabulletin - 🏆 25. / 51 Read more »
‘Emancipation’: P58-B land reform debts wiped outWith the stroke of a pen, much like what his father used to do when he ruled by decree, President Marcos Jr. wiped out the debts of more than half a million farmers so they could immediately get titles to the lands they have been tilling for decades.
Source: inquirerdotnet - 🏆 3. / 86 Read more »