Duterte, Cayetano: Return Coco Levy Fund in First 100 Days

Duterte, Cayetano: Return Coco Levy Fund in First 100 Days

Mayor Rodrigo Duterte and Senator Alan Peter Cayetano signed a written oath in front of coconut farmers in Quezon, promising the return of the controversial funds within the tandem's first 100 days of office.

According to a report from Rappler, the oath consisted of three promises:

1. The coco levy fund would be returned to the farmers within 100 days.

2. On top of that, there would also be other measures to improve the coconut industry, particularly in funding its infrastructure, research, and marketing.

3. The tandem would support efforts to recover the remaining funds.

During the Martial Law, alleged cronies of the late President Ferdinand Marcos collected taxes from coconut farmers which constituted the coco levy fund.

One of the alleged cronies is Eduardo "Danding" Cojuangco, Jr. who used the fund to buy a 24% stake in the San Miguel Corporation, as reported in Rappler in 2012

Duterte is not the only candidate who promises to return the funds.

However, in the same report, he said that only did not have any debt of gratitude towards  Eduardo "Danding" Cojuangco Jr, making a clear yet indirect accusation towards fellow candidate, Senator Grace Poe.

According to a report from GMA News Online last March 20, Poe denied being influenced by Danding Cojuangco.

 

 

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