Aquino signs EOs on coco levy funds’ use

President Aquino has signed Executive Order (EO) no. 179 and Executive Order no. 180 providing the mechanism on the use of the coco levy funds as well as the development the coconut industry.

Both Executive Orders were signed by President Aquino on March 18, 2015.

Under EO 179, the government has provided the guidelines for the inventory and privatization of coco levy assets.

In the said EO, the President directed the Presidential Commission on Good Government (PCGG) to identify and account for all Coco Levy assets, with the assistance of the Office of the Solici- tor General (OSG), Bureau of Treasury (BTr), and the Commission on Audit (COA). It shall be within 60 days from effectivity of the EO.

Government agencies that have Coco Levy assets shall re-convey and transfer the title to the Republic of the Philippines over the coco levy Assets within 60 days.

Money constituting the coco levy or accruing from coco levy assets should likewise be deposited to the Special Account in the General Fund for Coco Levies (Coco Levy SAGF).

As for non-cash coco levy assets, the President directed the Privatization and Management Office (PMO) to be in charge of privatization efforts and disposition program for non-cash coco levy assets.

“All proceeds and receipts or revenues arising out of or in connection with the privatization of the Coco Levy Assets shall be deposited in the coco levy SAGF,” the EO stated.

Meanwhile, Executive Order No. 180 provides the administrative guidelines for the re-conveyance and utilization of coco levy assets for the benefit of the coconut farmers and the development of the coconut industry.

President Aquino has directed the PCGG, OSG, and other concerned agencies, to “file the proper pleadings or institute and maintain the necessary legal actions to preserve, protect, and recover the Government’s rights and interests in the Coco Levy Assets to prevent any dissipation or reduction in their value.”

He also ordered the BTr, Governance Commission for GOCCs (GCG), OSG, government representatives to the boards of sequestered or surrendered corporations, and any government agency with Coco Levy asset in their administration, to dissolve or cause the dissolution of the Coconut Industry Investment Fund (CIIF) Holding Companies.

“Provided that all the remaining money and assets of the CIIF Holding Companies after its dissolution shall be transferred, deposited or delivered to the Government in accordance with the provisions,” the EO stated.