PCA Board to be asked to resign ahead of coco levy fund release

All the board members of Philippine Coconut Authority (PCA) — the agency that will be tasked to handle the 1100billion coconut levy fund — will be asked to resign ahead of the much awaited release of the controversial fund.

That's according to Agriculture Secretary Emmanuel Piñol, who said the "courtesy resignation" should pave the way for the reorganization of the PCA, a move that is required under the newly passed Coconut Farmers and Industry Development Act or the Coco Levy Act.

President Rodrigo Duterte is expected to sign any time soon the Coco Levy Act, which should facilitate the release of the fund that was collected by the government during Marcos administration by overtaxing coconut farmers.

Instead of releasing it directly to farmers, the government thought it is best to just create a trust fund that a "reconstituted PCA Board" will be tasked to handle and utilize.

The Senate has already ratified the bicameral conference committee report on the said measure more than a week ago.

"It was I who suggested to give PRRD [President Rodrigo Roa Duterte] a free hand in selecting new [PCA] officials," Piñol said on Wednesday. "[There should be a] courtesy resignation among PCA Board but they have to work until such time the new board members are reappointed or if they are reappointed."

Right now, the current PCA Board is composed of six members including PCA Administrator Romulo de la Rosa, Alan Tanjuakio (member), Manuel Serra Jr. (member), Conrado Capa (member), and Roque Quimpan (member).

The replacement of former Cabinet Secretary (CabSec) Leoncio Evasco as the PCA Board Chairman has not been formally announced. Evasco resigned from his CabSec position a few months ago to run for governor of Bohol next year and was replaced by former Davao City first district Representative Karlo Nograles.

Under the Coco Levy Act, there should be a new set of PCA Board. For a total of 15 seats, the board would be composed of representatives from eight government agencies including PCA, the Department of Agriculture, Department of Finance, Department of Budget and Management, Department of Science and Technology, Department of Trade and Industry, LandBank of the Philippines and the Development Bank of the Philippines.

There will also be six farmer representatives in the PCA board, including two each from Luzon, Visayas, and Mindanao; and another representative from the private sector.

In August, the proposed measure already made it through the bicameral but some senators requested to recall the bill since some cabinet secretaries questioned the planned structure of the PCA Board.

Aside from the reconstitution of PCA Board, the government also intends to stretch the release of the coconut levy fund up to 25 years. Under the law, the funds will be released to PCA at 15 billion annually until it runs out.