Press Release
December 15, 2014

Transcript of interview with Sen. Cynthia Villar (Coco levy hearing)

Q: Ano po ang mga napag-usapan?

Villar: We just limited the issues sa tingin namin ay importante. We will put it in a trust fund para gagamitin ng farmers. Ang gagamitin lang ay interes taun-taon... pwede rin kaming magprovide na sa principal during the first year para ma-implement agad. But ang consensus ay trust fund na interes lang ang gagamitin.

Q: Magkano po ang interes?

Villar: Mga P2 billion ang estimate.

Q: Saan po iinvest ito?

Villar: May committee but we can limit the investment, like may thinking na government bonds lang, merong thinking na fixed income na blue chips para hindi naman masyadong mababa ang interes, fixed income private bonds na bluechips, ibig sabihin very stable na companies na nag-issue ng private bonds.

Q: Pero wala pang final?

Villar: Wala, kasi kinukuha natin ang consensus. Tapos sino magma-manage ng fund? At saan gagamitin. Kasi we can limit it kung saan nila dadalhin yung funds.

Q: Sino ang preferred n'yo kung sino ang magma-manage?

Villar: Marami, we will have to talk about it. Yung iba, president, yung iba DA, yung iba NEDA.

Q: Pero dapat government?

Villar: I think so kasi mas stable iyon. Kasi kapag sinabi mong farmers, sino sa farmers? Baka mag-away-away pa sila then there's nobody na chairman ng fund.

Q: Pero magkakaroon ng farmers ng representation?

Villar: Yes, oo. May representation sila. They are asking for kalahati, we'll see.

Q: Any time table?

Villar: First quarter of next year.

Q: On EO

Villar: If they bring out an EO before us, then it will only be effective until iyong legislation ay mapasa. So parang interim iyon. So there's no real conflict. Kasi ang intention nila ng EO, para maimplement na rin as soon as possible. Pero as soon as may legislation, legislation will prevail.

Q: Iyong 2-3 billion na interes saan po i-spend iyon?

Villar: I-enumerate namin kung saan by percentage; scholarship to children of farmers, sa shared facilities program, sa replanting, sa intercropping, sa livelihood.. marami pa silang pangangailangan, research and development or for emergency. That is open.

Q: Ano po ang advantage ng paglagay sa trust fund as opposed to distribution sa farmers?

Villar: Masyadong maliit kapag dinistribute, wala ring mangyayari. Tsaka may away pa kung kanino ibibigay sa kanila, magkakagulo iyan.

Q: Ilang percentage po...?

Villar: Ang suggestion is 10 pero we'll see.

Q: Magkano po iyong fund?

Villar: P100 billion. Ang cash is P72 billion. And then they valued yung mga company na ipagbibili, around P30 billion. That's an informal estimate... It can be higher or lower, depending how much the companies will be sold.

Q: Hindi siya dadalhin sa farm to market roads?

Villar: Kasi meron na sa GAA nun. This is in addition to the funds provided for by the GAA. So parang ang gusto namin dito diretsong-diretso ang benefit sa farmers because they are poorest in the country, earning P50 a day.

Q: Gusto ng farmers sila ang mag-manage kasi parang nadala sa gobyerno...

Villar: but the ruling of the Supreme Court is it's the government as trustee for the farmers. So we will just see to it na lang na may limitation kung saan nila dadalhin, may limitation kung saan nila iinvest. Parang ang intention natin is the preservation of principal. Ipo-protect natin yung principal so that it will be there perpetually for the small farmers.

Q: Perpetual o may term?

Villar: Siguro perpetual na lang, unless there is a law na nagsabing papalitan.

Q: May monitoring kayo kung ilang farmers yung makikinabang?

Villar: 3.5 million ang official na coconut farmers.

Q: Sa ngayon hindi pa daw clear kung magkano ang available funds?

Villar: Sure na yung P72 billion, it's deposited sa Treasury bills. We are talking of the companies, which they valued around P30 billion.

Q: Kailangan pa bang i-audit?

Villar: Okay lang yung audit, what happened before. But what is important is the future not the past. I mean, for our peace of mind, they can audit it and tell us what happened but ang importante is the future of the small coconut farmers.

Q: May suggestion na gastusin sa biktima ng Yolanda ang coco levy funds?

Villar: May sariling budget ang Yolanda. It will be for everybody. Ginawa iyan for everybody so it will be given back to everybody. Ang laki ng budget sa Yolanda, akala lang nila wala. Pati iyong supplemental budget, yung existing budget, may budget sa Yolanda.

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