A total of 64,241 agrarian reform beneficiaries (ARBs) in the regions of Ilocos, Cordillera, Cagayan Valley, and Central Luzon were spared by the government from paying over PhP3 billion in mortgages following the signing of the Certificates of Condonation with Release of Mortgage (COCROM) on Friday.
The move, according to President Ferdinand Marcos Jr., is a fulfillment of his promise to needy farmers.
“Ang mga certificates na ito ay simbolo ng katuparan ng ating pangako na buburahin natin ang pagkakautang ng ating mga Agrarian Reform Beneficiaries (ARBs),” President Marcos said.
The President made the remarks during the distribution event in Pangasinan of PhP339.54 million in financial assistance, services, and programs to over 10,000 farmers and fisherfolk and their families affected by the El Niño phenomenon.
Of the 64,241 ARBs, President Marcos said 3,558 from the Ilocos region will be exempted from paying PhP50.56 million in debt while 60,683 in the Cordillera, Cagayan Valley, and Central Luzon regions would no longer have to pay their debt amounting to PhP3.175 billion.
“Ang pamamahagi ngayong araw ng mga COCROM na ito ay isang mahalagang hakbang-pasulong sa ating paglalakbay tungo sa hustisyang agraryo. Kaisa ninyo kami sa inyong mga hangarin, at kami ay tapat sa pangakong suportahan at palakasin kayo sa bawat hakbang ng inyong paglalakbay,” Marcos said.
The Department of Agrarian Reform (DAR) led the distribution of the certificates. It was the first time for DAR to distribute COCROMs.
Republic Act 11953 or the New Agrarian Emancipation Act condones all unpaid outstanding loans, amortizations, interests, penalties, and surcharges associated with the allocation of lands under the Comprehensive Agrarian Reform Program (CARP). PND
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