Ferdinand Martin G. Romualdez

SPEAKER HAILS AGRARIAN REFORM DEBT FREEZ EXTENSION

September 12, 2023 Ryan Ponce Pacpaco 192 views

SPEAKER Ferdinand Martin G. Romualdez has lauded President Ferdinand R. Marcos, Jr. for signing an Executive Order that extends for another two years the moratorium on the debt of Agrarian Reform Beneficiaries not covered by the recently-enacted New Agrarian Emancipation Act (NAEA).

Romualdez also commended the Department of Agrarian Reform for submitting the Implementing Rules and Regulations on the NAEA (Republic Act No. 11953) 15 days before the prescribed deadline.

Marcos has signed the EO extending up to September 15, 2025 the agrarian debt moratorium and presentation of the IRR of RA 11953 to the Chief Executive by DAR Secretary Conrado Estrella III.

“The extension of the moratorium on the payment of the amortization and principal on the debt of our agrarian reform beneficiaries is a demonstration of the commitment of the administration of President Marcos to their welfare and the growth of our agricultural sector,” Romualdez said.

“DAR’s early submission of the IRR is a significant step towards fulfilling the promise of the New Agrarian Emancipation Act to uplift the life of our farmers, revitalize our agricultural sector, and provide affordable food for every family,” he added.

He noted that the moratorium would benefit some 129,059 ARBs, tilling an estimated 158,209 hectares of land, who did not reach the cut-off period of July 24, 2023, provided under RA 11953 to qualify for agrarian debt condonation.

The condonation of agrarian reform debt under the NAEA, on the other hand, would benefit some 610,054 ARBs who incurred an estimated P57.55 billion in unpaid amortization. It also terminates P206.247 million in unpaid compensation to landowners by 10,201 ARBs.

Earlier, Romualdez expressed confidence that RA No. 11953 would contribute immensely to the attainment of the country’s rice sufficiency.

He said erasing the agrarian reform beneficiaries’ indebtedness is just the first step in assisting them to attain better productivity, improve their lives and achieve rice sufficiency for the country.

“The next step is aiding them to those objectives by providing them with or giving them access to credit, technology, equipment, inputs, and other vital support services. Let us leave them to fend for themselves,” he added.

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