IRR on agrarian emancipation law out by September
Credit to Author: Bella Cariaso| Date: Fri, 21 Jul 2023 00:00:00 +0800
MANILA, Philippines — The implementing rules and regulations (IRR) for the New Agrarian Reform Emancipation Act or Republic Act 11953 are expected to be ready by September, Agrarian Reform Secretary Conrado Estrella III said yesterday.
“Based on the law signed by President Marcos, the effectivity of the law will be 15 days after it was published in the Official Gazette. It was published on July 9, it will become effective on July 24,” Estrella said in a chance interview in Bulacan.
Estrella added that the Office of the President is expected to release the composition of the committee to start the crafting of the IRR of RA 11953. “We want it by the second week of September, we will be able to release the IRR,” Estrella said.
RA 11953 condones all the unpaid amortizations of the principal debt, including interest and surcharges, if any, incurred by ARBs.
A total of P 57.56 billion of unpaid principal debt would be condoned to benefit 610,054 agrarian reform beneficiaries (ARBs) tilling 1.173 million hectares of land.
At the same time, Estrella downplayed fears that the condonation would lead to rampant selling of farmlands.
“It will not happen as we did not amend the provision of the Comprehensive Agrarian Reform Program prohibiting the sale of awarded lands for a period of 10 years,” Estrella pointed out.
Estrella said the national government will shoulder the P58 billion unpaid loans to the Land Bank of the Philippines.
“This will be paid by the national government through installment. Remember these are dormant accounts as farmers were not able to pay their loans due to various reasons, including weather disturbances, climate change, high cost of farm inputs,” he explained.
The P14.5-billion principal loans of the 263,622 ARBs, whose names and loan details were submitted by the Land Bank of the Philippines to Congress, shall be condoned outright.
The condonation of the remaining P43.06 billion loans of 346,432 ARBs would take effect upon submission of relevant details by Landbank and DAR to Congress.
The government will also assume payment of P206.25 in just compensation to landowners under the Voluntary Land Transfer or Direct Payment schemes for the benefit of 10,201 ARBs.
Marcos also reiterated the need to further enable the agriculture sector through the provision of credit facilities, farm inputs and equipment, and market access, including farm-to-market roads.