Connect with us

Hi, what are you looking for?


Congressman: Marcos to order agrarian debt pardon 


PHILIPPINE President Ferdinand R. Marcos, Jr. would sign an order imposing a moratorium in the collection of P58 billion in agrarian reform debts of about 654,000 farmers, according to a congressman. 

Albay Rep. Jose Ma. Clemente S. Salceda, who authored a bill that seeks to pardon the debts covering 1.18 million hectares of awarded land, said it would be the first major executive order that the president would issue for farmers. “So, it is historic,” he said in a statement sent through Viber. 

“It sends an unmistakable signal to Congress about where the president wants to take this,” he said. “He means what he says in the state of the nation address. We need to enact a law condoning the P58 billion in agrarian reform beneficiary debts.” 

The Comprehensive Agrarian Reform Law of 1988 mandates that land awarded to agrarian reform beneficiaries be paid in thirty annual amortizations at 6% interest per year.  

“With this executive order, President Marcos is wielding the might of his 59% mandate — a mandate built heavily on his emphasis on farmer and rural development,” Mr. Salceda said. — Matthew Carl L. Montecillo 

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!


Editor’s Pick

The Governor of the Bank of England has ruled out an emergency rate rise following a rout in the pound. In a statement just...


SEAN YORO-UNSPLASH By Keisha B. Ta-asan THE INTERNATIONAL Monetary Fund (IMF) expects Philippine expansion to slow this year as rising interest rates cloud the...


THE PHILIPPINE central bank is expected to raise the policy rate to 5% by yearend — higher than the initial 4.5% forecast — to...


PHILSTAR FILE PHOTO By Kyle Aristophere T. Atienza, Reporter PRESIDENT Ferdinand R. Marcos, Jr. should fulfill his campaign promise to modernize the Philippines’ maritime...


PHILIPPINE EMPLOYERS will probably increase their budget for pay increases next...


BW FILE PHOTO By Diego Gabriel C. Robles PHILIPPINE EMPLOYERS will probably increase their budget for pay increases next year amid a tight labor...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.