Free Essay

Comprehensive Agrarian Reform Program

In:

Submitted By raao
Words 2035
Pages 9
Rae Antoinette Obelidhon Eco1/8:00-9:30/BA206
Sienna Abug Prof. Mark Anthony Baral

Comprehensive Agrarian Reform Program under the
Corazon Aquino Administration

Aside from restoring democracy in the Philippines in 1986, the administration of the late President Corazon Cojuanco-Aquino was noted in history for instituting a Comprehensive Agrarian Reform Program (CARP) that aims to give land to the landless. But 28 years later, the Cojuanco-Aquino’s own 5,000-hectare sugarcane plantation in Tarlac is yet to be actually distributed to the beneficiaries of her own social reform program.
The Cojuanco-Aquino’s Hacienda Luisita is one of the many vast parcels of agricultural lands that are under the mandatory coverage of CARP under Republic Act 6657. Each of the Hacienda’s 6,212 tenant-farmers is expecting to own at least 6,600 square meters of land from the 4,099-hectare distributable area of Hacienda Luisita. Despite government’s initial payment of at least P471 million as just compensation to Hacienda Luisita Inc. (HLI), the Department of Agrarian Reform is still struggling to install the beneficiaries in their CARP-awarded lands. In September, DAR Secretary Virgilo Delos Reyes said copies of Certificate of Land Ownership Awards are currently being distributed to the farmer-beneficiaries. But almost three years after the Supreme Court ordered the actual land distribution to Hacienda Luisita farmers in 2011, DAR is still in the process of surveying the boundaries of each of the parcels that will be awarded. Mr. Delos Reyes himself could not say how “soon” the farmer-beneficiaries can access and till the land they have been promised to have. The stock-distribution option, which had delayed the actual distribution of Hacienda Luisita, is among the many loopholes in the Comprehensive Agrarian Reform Law of 1988. Mrs. Aquino had included the SDO as a means for land-owning families like hers to evade the mandatory coverage of CARP. Under this loophole, corporate landowners may give farmer-beneficiaries the right to purchase capital stock of the corporation instead of turning over their land for CARP coverage. For years, farmers held HLI stock certificates instead of land titles as is the essence of the program. Although the Supreme Court had finally ordered the nullification of the SDO deal between HLI and its tenant-farmers, it failed to finally declare the unconstitutionality of the SDO as many agrarian reform advocates would have wanted. Lawyer Christian Monson, who was appointed as Election Commissioner under Mrs. Aquino’s administration and was a member of the commission that drafted the 1987 Constitution, admitted that the SDO was proof that Mrs. Aquino would not betray her own kind: the landed. Despite being propelled to power by the farmers she had promised, land reform with, Mrs. Aquino “only paid lip service to it” just like what her son does now despite referring to the masses, farmers included as his “boss”. The land acquisition and distribution (LAD) component of CARP is due to expire on June 30. Although the CARP as a social justice program will continue, only the lands with notices of coverage (NOC) issued before the deadline would be processed. In a status report, Mr. Delos Reyes disclosed that there are still 822,488 hectares of land that comprise the LAD balance as of June 2013. Of the LAD balance, 210,067 hectares have been tagged as “problematic.” Despite DAR’s backlog and the agency’s need for more time to cope up, Mr. Aquino is yet to respond to calls for him to support the extension of CARP’s LAD component three months into the deadline. In an interview last February, Ifugao Representative Teddy Brawner Baguilat, chairman of the Congressional Committee on Agrarian Reform, said there are separate proposals to extend LAD by five more years, to amend the existing law on CARP and to legislate a new and genuine agrarian reform law. Baguilat admitted that his Committee can endorse any of the proposed measures but said that the real battle will be at the plenary where landlords dominate the floor. “It cannot be denied that majority of those in Congress are landlords or are scions of landed families. But there are younger set of legislators who are open to the concept of social justice and human rights. There is a general sense of social reform. But let’s see (how they handle their biases) in the plenary,” he said. Given the fast-approaching deadline, Baguilat said it may not be feasible for Congress to legislate a new agrarian reform law but it would significantly help if the incumbent President “would make a categorical statement or issue an executive order saying that all of the LAD balance are considered as covered,” even if NOCs are not issued before the June 30 deadline. Although Mr. Aquino promised to complete CARP during the his third state of the nation address, the government’s direction to wind down the operation of DAR and delegate its functions to other government agencies was seen as an outright contradiction of his claim. Anxious about then apparent abandonment of the CARP, farmers made all sorts of noise just to get government’s attention and get it to seriously implement the program. Farmers from across the archipelago went on hunger strikes, barefoot marches, camp outs and demonstrations the latest of which was held inside Malacañang grounds last February 11 were ignored, arrested, and even harassed for pushing for justice that is due them. Some even failed to live long enough to hold their elusive CLOAs. Aware of the plight of the farmers, the civil society groups and Church leaders have rallied to support moves to further extend CARP. Atty. Monsod, representing the Multi-Stakeholder Task Force on Agrarian Reform, and Manila Auxiliary Bishop Broderick Pabillo, representing the Catholic Bishops’ Conference of the Philippines (CBCP) National Secretariat for Social Action, Justice and Peace, were among the numerous signatories in a January 22, 2014 letter urging Mr. Aquino to extend CARP for two more years and to see the full implementation of the program until he steps down from the presidency in 2016. “Decisive action to ensure the success of CARP will be especially timely, given that 2014 has been declared the International Year of Family Farming by the General Assembly of the United Nations. There would be no stronger statement that your administration champions the cause of family farmers by sustaining the very program that would give land to the landless, and thus allow the family farm sector to flourish within our country,” the agrarian reform advocates told Mr. Aquino in their letter. In terms of nullify circumventions, the agrarian reform advocates and farmer groups have also urged the Chief Executive and Congress to create an independent commission to look into the lands that avoided or circumvented the law. Among other purposes, the proposed commission would look into the lands that avoided or circumvented the law, such as the voluntary land transfer, unwarranted exemptions and conversions, excessive retentions, fake joint ventures, and “take steps to have them declared null and void and subject the lands to coverage and distribution,” they said. Aside from the SDO, the VLT had also been another means for landowners to circumvent the law on agrarian reform. Under this option, landowners may enter into arrangement of land transfer directly to qualified beneficiaries. But Monsod said farmers are usually shortchanged under these arrangements. “Government must not allow landowners to negotiate directly with farmers because the bargaining positions are not the same. The farmers are in an inferior and weaker position,” he said. Citing stories from the grassroots, Bishop Pabillo said landowners that availed of the VLT has actually defied the purpose of CARP when they identify the beneficiaries, “who are usually their dummies or their family members.” The law also allowed landowners and farmer-beneficiaries to enter into leasehold agreement. Leasing back the lands from the farmers is actually considered a transition period where the farmers are being taught of capacity building as owner-cultivator of the farmlands but Monsod assailed DAR for consenting to leasehold agreements lasting for 20 years with some applying for further extension. “How can a transition period be as long as 20 years? Five years is enough. It is very difficult for them to undergo the transition from tenant-worker to owner-cultivator that is why the government should step in a big way to help them towards this transition.”
Monsod said these lands that evaded the law should be brought back to CARP coverage. “If you allow landowners who circumvented and defied the law to keep the land, it will make a mockery of the CARP. They are keeping their land and they brag about the fact that they were able to circumvent the law. How can that be social reform when you allow that to happen?” But Monsod also admitted that from the beginning of its institution, CARP was meant to fail. “All social reform laws have loopholes because they were legislated by the elite and for the rich and the powerful to take advantage of,” he said. Agrarian reform advocates who wrote Mr. Aquino last January also urged the government to condone all unpaid amortizations for lands awarded under CARP. Ideally, farmers will pay for their awarded lands within 30 years but almost 90 percent of the farmers have been delinquent in their obligation. Pabillo said the lack of support services like credit facility, planting technology, irrigation systems and farm-to-market roads have greatly affected the productivity of farmer beneficiaries. “It’s best to condone the unpaid amortization and unconditionally award the land to the farmers because there has been no support services to make them productive enough to earn,” the prelate said. The lack of support service for farmers was traced to the underfunding of CARP. Initially, the program has a funding requirement of P225 billion for its 20-year implementation. However, landlords-dominated Congress only allocated P175 billion for the program and appropriated less than the P150 billion funding requirement for the five-year extension. Monsod added that recouping the investment in CARP or merely meeting targets should not be government’s motivation. “They missed the point, agrarian reform is not about numbers or deadlines. It is about the outcome. Have the lives of the farmers improve? Has rural poverty been reduced?”. “The deadline is only for the acquisition and distribution of lands,” he added. “The support service will still go on. We hope that there will be a massive example of this government of funding support services to show what can be done if it is done right.”. “Give CARP a chance” is the farmers’ outstanding appeal to Congress. Monsod said a proper audit of the DAR’s performance and the continued implementation of CARP will put new life into the farming sector. “Imagine what that can do to the morale of the poor farmers?”. For his part, Pabillo said the Church would continue to rally behind the farmers in pursuing their rights under CARP. The CBCP NASSA has been instrumental in arranging farmers’ meetings with government officials, providing food and lodging to farmers during their marches and camp outs. “According to the social teachings of the Church, the earth belongs to all and not only to some. It is not justice if only a few have lands while the majority are landless,” he said. “Until justice is not met, the Church’s support to the poor and oppressed will continue.” Pabillo lamented the government’s lack of resolve in implementing agrarian reform and the Aquinos’ real intentions for not making CARP succeed. “Is it by design or by incompetence that the CARP is not completed?” the prelate asked. “I don’t know if it is just a lack of resolve or if there is really an intention to not make agrarian reform succeed.”
Mrs. Aquino may have restored democracy in a country torn by dictatorship but her leadership only ushered in an era that stinks of oligarchs and breeds political dynasties. She may be regarded as an icon of democracy but her track record of serving her family’s interest over the common good will remain a stain in her and her son’s brand of leadership and a kind of legacy nobody in their family would be proud of.

Similar Documents

Free Essay

Restaurant Business Sales

...CHAPTER XI: SPECIAL PROVISIONS RELATING TO AGRARIAN REFORM COOPERATIVES Section 88: Coverage The provision of this Chapter shall primarily govern agrarian reform cooperatives: Provided, that the provisions of other chapter of this Code shall be applied except insofar as this Chapter otherwise provides. Section 89: Definition and Purpose Agrarian Reform cooperative members are the Agrarian Reform Beneficiaries and Farmers Following purposes: * To develop appropriate system for land tenure, land development and management. Provide assistance in storage transport, marketing of farm products, financial facilities to beneficiaries for a reasonable cost, and arrange transfer of suitable technology in low cost. * To provide social security, medical, social insurance, non-formal education, vocational, technical training livelihood programs and promote the general welfare of agrarian reform beneficiaries and marginal farmers * To undertake comprehensive, integrated development program like agro-based, marine based, cottage based industries and act as a channel for external assistance for the beneficiaries. Section 90: Cooperative Estates Landholdings, plantations, haciendas acquired by the state of the workers in accordance with comprehensive agrarian reform program shall be owned collectively by the workers and beneficiaries Section 91: Infrastructure Government shall grant to agrarian reform cooperative the preferential treatment, authority to construct...

Words: 525 - Pages: 3

Premium Essay

Philippine Agrarian Reform Programs

...1. AGGRARIAN LAND REFORM PROGRAM ( Roxas - Aquino ) 2. Aggrarian Reform Historyq Manuel Roxasq Elpidio Quirinoq Ramon Magsaysayq Carlos P. Garciaq Diosdasdo Macapagalq Ferdinand E. Marcosq Corazon C. Aquino 3. Manuel Roxas (1946-1948)What happened to the estates took over by the HUKBALAHAP during the Japanese occupation?•These estates were confiscated and returned toits owners. Because of this, some of the farmer-tenants preferred to join the HUK movement ratherthan go back and serve their landlords under thesame conditions prior to World War II. 4. Manuel Roxas (1946-1948)What were the key accomplishments during the Roxas administration?•Republic Act No. 34 was enacted to establish a70-30 sharing arrangement between tenant andlandlord. The 70% of the harvest will go to theperson who shouldered the expenses for planting,harvesting and for the work animals.•It also reduced the interest of landowners’ loansto tenants at not more than 6%. 5. Manuel Roxas (1946-1948)• President Roxas also negotiated for the purchase of 8,000 hectares of lands in Batangas owned by the Ayala-Zobel family. These were sold to landless farmers. 6. Elpidio Quirino (1948-1953) What was the major program of the Quirino administration regarding agrarian reform?•Through Executive Order No. 355, the LandSettlement Development Corporation(LASEDECO) was established to accelerate andexpand the peasant resettlement A ii ii Bureau ofAgrarian Reform Information and Educationprogram of the government. However...

Words: 2008 - Pages: 9

Free Essay

Garb and Carper

...AS MORE than a hundred peasants from Bukidnon continue their march to Malacañang to own the land they have been fighting for, a leader of a tribal group thinks the protesting peasants should also go beyond the Comprehensive Agrarian Reform Program Extension with Reforms (Carper) campaign. Datu Jomorito Goaynon, chairman of the lumad group Kalumbay, said the marching peasants must not rely on Carper alone to fight for their lands, but also lobby for the approval of the Genuine Agrarian Reform Bill (Garb). Garb, or House Bill 374, is a legislation that Goaynon hopes would offer peasants a far better alternative than what Carper has to offer. uthored by members of the progressive party-list representatives, Garb is still pending at the House of Representatives, while Carper, also known as Republic Act 9700, is set to expire on June 30, 2014. While farmer-groups like Task Force Mapalad (TFM) and Alliance of Land Rights Movement in Mindanao (Alarm-Mindanao) have initiated the march for a cause for the second time to remind the government of their demands, Goaynon said, "They should also set their sights on Garb since Carper’s timeframe is almost at its end." The problem with Carper, he said, is that there are loopholes agri corporations or huge land owners can tweak to their advantage and to the detriment of the peasants. “Their cause is reasonable since they only want to have land they can call their own, but I think Carper may not be the best answer to that,” Goaynon told Sun...

Words: 1375 - Pages: 6

Free Essay

Impact of Dti-Carp Program to Arc Assisted

...RESEARCH IMPACT OF DEPARTMENT OF TRADE AND INDUSTRY – COMPREHENSIVE AGRARIAN REFORM PROGRAM TO AGRARIAN REFORM COMMUNITIES ASSISTED CHAPTER I THE PROBLEM AND ITS SETTING INTRODUCTION In consonance with the avowed policy of the state to promote social justice and to move the nation toward rural development and industrialization, the Comprehensive Agrarian Reform Law (RA 6657) was enacted on 10 June 1988. The law spells out the mechanism for the implementation of the Comprehensive Agrarian Reform Program (CARP) which aims to redistribute all public and private agricultural lands, including lands of the public domain suitable for agriculture. Under the program, landowners are allowed to retain a maximum of five hectares. The CARP, which is primarily envisioned to accomplish equity objectives through land distribution, also aims to address efficiency issues by increasing farm productivity. Improved farm productivity is expected to be accomplished through the adoption of appropriate farming practices and technology by the new landowners and the provision of the complementary support services. These include, among others, infrastructure support, credit, technical training and appropriate technology. The program is also designed to encourage production in idle and abandoned lands which is expected to increase overall land productivity. In view of its comprehensive scope, the implementation of the CARP involves the Department of Trade and Industry through the establishment...

Words: 2182 - Pages: 9

Free Essay

Agrarian Reform

...AGRARIAN REFORM CURRENT ANG HISTORICAL PROBLEMS BRIEF HISTORICAL BACKGROUND OF AGRARIAN REFORM * Historically, agrarian-related remedies extended by past regimes and administrators proved to be totally unable to fulfill the promise of alleviating the quality of life of the landless peasants. * The land laws have invariably contained provisions that enabled powerful landowners to circumvent the law, or even use the law to sustain and further strengthen their positions in power. 1. Pre-Spanish Era - Land was not unequally distributed before the Spaniards came to the Philippines. - The notion of private property was unknown then. - The community (barangay) owned the land. 2. Spanish Period (1521-1898) - One of the major initial policies of the governorship of Legazpi was to recognize all lands in the Philippines as part of public domain regardless of local customs. - As such, the crown was at liberty to parcel out huge tracts of Philippine lands as rewards to loyal civilian and military as rewards. * In effect, communal ownership of land gradually and slowly took the backseat. * Private ownership of land was introduced. * With this arrangement, every municipal resident was given his choice of the land for cultivation, free from tax. * Large tracts of uncultivated lands not circumscribed within a given municipality were granted by the Spanish monarch to deserving Spaniards. * This kind of ownership became known as the encomienda...

Words: 2342 - Pages: 10

Premium Essay

Agrarian Reform and Land Distribution in Brasil

...Report and analyze the article in regard to the implications of Agrarian reform and land distribution in Brazil. February 8, 2012 The history of land reform in Brazil to this day remains one of the major unsolved problem since the colonial era. Indeed, during the 18th century, Brazil, a Portuguese colony still has not experienced the social movements that democratizing access to land and that have changed the face of Europe, as presented today. In the 19th century, the specter that spreads across Europe and served to accelerate social progress has not crossed the Atlantic Ocean and affects Brazil with its large concentration of land but unevenly distributed among populations. While, unlike the United States, which, during the colonization of the territories of northern and central-west, settled the problem of access to land, the colonization of land in Brazil have continued to follow the old latifundium model, dominated by the old rural oligarchy. The 1930 revolution that overthrew the old coffee-based oligarchy , has deeply encourages the process of industrialization...

Words: 1188 - Pages: 5

Premium Essay

Agrs

...REFORMING THE AGRARIAN REFORM PROGRAM A SCORE LATER, WHAT IS THE REAL SCORE? Rolando T. Bello UPLBFI Science and Technology Professorial Chair Holder Introduction On June 10, 1988, President Corazon C. Aquino enacted into law Republic Act 6657, “An Act Instituting the Comprehensive Agrarian Reform Program to Promote Social Justice and Industrialization, Providing the Mechanisms for its Implementation, and for Other Purposes.” The signing into law was attended with the President’s optimism that the program could achieve the twin goals of having a radical leap in agricultural productivity and the uplifting of the Filipino masses from their ancient poverty while expressing the hope that it will end all the acrimony and misgivings of the contending parties as well as uniting the nation behind the effort to make agrarian reform a success. The enactment of the law twenty years ago was the apparent embodiment of the then just ratified 1987 Philippine Constitution which declared as a policy of the State the promotion of a comprehensive rural development and agrarian reform. In addition, the fundamental law mandates the State to promote industrialization and full employment based on sound agricultural development and agrarian reform. These Charter provisions and the passing of the law set forth the claim that agrarian reform in the Philippines is inimitable considering the challenges of redistributive reform to be carried out under a democratic milieu. The ratification...

Words: 7917 - Pages: 32

Free Essay

Carp

...Narratives of Land: The Current State of Agrarian Reform in the Philippines ALMOST twenty-six years of implementation, still counting and with completion nowhere near in sight. This amount of time that the Philippine government has taken to implement and complete the key provisions of the Comprehensive Agrarian Reform Program (CARP) law translates to a whole generation of Filipinos, including children of farmers, who have been born at the time of the law’s passage, have grown up through the years of tentative and unfinished implementation, and reaching adulthood amid current intensified clamor for government to complete its task. CARP is now the longest running program being implemented under a democratic political system, post-EDSA 1986. It has been widely seen as the litmus test of past and present administrations’ commitment to social justice, as mandated by the 1987 Philippine Constitution. CARPER or Republic Act 9700, signed 7 August 2009, gave the original Republic Act 6657 or CARP five more years to be completed. In 1998, CARP’s land acquisition and distribution component had been given its first 10-year extension and additional funding of PhP 50 billion through Republic Act 8532. One of the main goals during the extension period should be the completion of land distribution by June 30, 2014. The program should get PhP 150 billion for five years or PhP 30 billion per year for land acquisition and distribution and agrarian justice delivery (a total of 60 percent...

Words: 2057 - Pages: 9

Premium Essay

R.A. 6713

...EC-OMB Corruption Prevention Project Integrity Development Review of the Department of Agrarian Reform Executive Summary The Department of Agrarian Reform (DAR), now called Department of Land Reform, was created by virtue of Republic Act 6389 signed into law on September 10, 1971. It is the lead implementing agency of the government’s Comprehensive Agrarian Reform Program (CARP). It undertakes land tenure improvement, development of beneficiaries, land surveys in resettlement areas, land acquisition and distribution and delivery of support services to farmer beneficiaries. Ten dimensions were assessed under the Integrity Development Review Project namely, Leadership, Code of Conduct, Gifts and Benefits Policy, Human Resource Management, Financial Management, Performance Management, Whistleblowing, Internal Reporting and Investigation, Corruption Risk Management, and Interface with the External Environment. The assessment provided a thorough diagnosis of corruption vulnerability and resistance, availability of control mechanisms and the effectiveness of existing systems. Agency strengths include compliance to minimum standards of laws pertinent to corruption prevention except for Gifts and Benefits and Whistleblowing and Internal Reporting, which are both fairly new concepts being integrated into government systems. The agency has a fairly high rating for Human Resources Management as it has achieved level of enforcement of policies required in this dimension. For Performance...

Words: 949 - Pages: 4

Premium Essay

Political Economy in the Developmental State: Comparison on Comprehensive Agrarian Reform in the Philippines to Select Latin American and East Asian Countries

...country’s economy, the agriculture sector accounts a significant portion of the total employment, which ranged from 45-50% during the 1980s. On the other hand, this sector also attributed significant portions of the total poor in the country for decades. Thus, in June 1988, the Comprehensive Agrarian Reform Program (CARP) was signed into law, paving the way for extensive land distribution and reforms which communist insurgencies urged during the Marcos regime. Consequently, the initial stages of the implementation process of CARP was met with apparent complications, expectedly so given that such a policy entailed a wide scope, whilst rural landlords provided staunch opposition in seizing their ownership to government. However, as the years passed and administrations would change, the promises of sweeping agrarian reform have remained unfinished, otherwise, significantly watered down. Such arbitration would be considered a detrimental factor to the current pitfalls that have hindered the development of Philippine political economy. In that, this paper questions what led to this failure of comprehensive agrarian reform and in pronouncing these mistakes, did other countries experience who also employed land reforms if they experienced similar dilemmas. We argue that deeply seated class structures have inevitably played a role in this development policy outcome, particularly elite groups and landlords who have established themselves in the political arena. The...

Words: 6579 - Pages: 27

Premium Essay

Development Paper

...BIOGRAPHICAL SKETCH Im Cliffe Whitney Paug Lapiz, 22 years old, presently residing at Purok1 North Poblacion, Medina, Misamis Oriental. I am currently 3rd year student taking up Bachelor of Science in Business Administration major in Financial Management at Bukidnon State University-Medina External Studies. ACKNOWLEDGEMENT We thank almighty God for successful completion of this Development Paper this would not be possible without him. I have taken efforts in this requirement. However, it would not have been possible without the kind support and help of many individuals. I would like to extend my sincere thanks to all of them. We are really grateful to our subject instructor MR. EDMUND P. VOSOTROS, for all kinds of informative information and valuable advice. To our preeminent head MA’AM FLORENCIA BAANG, to all our deans named; MA’AM MARIETTA T. ASPRIL, MA’AM LARSENEY OBEMIO, MA’AM CICILE ALLOYON let me extend our over whelming thanks giving and our deepest gratitude and appreciation. I would like also to express my gratitude towards to my parents who gave us a support, of giving us money to work on this assignment. Let me give my greatest and deepest gratitude to all of my Classmates, Sir, Ma’am, thank you very much. INTRODUCTION Why do we need to borrow money? There a numerous reasons for the borrowing of money but common ones are; home loans, purchasing of cars, insurance...

Words: 5047 - Pages: 21

Premium Essay

Landbank

...of the Agricultural Land Reform Code In 1965 - Land Bank's by-laws were approved and its first board of trustees was formed, with the Secretary of Finance as chairman. October 21, 1972 - Presidential Decree No. 27, signed by former President Ferdinand Marcos, emancipated all tenant farmers working on private agricultural lands devoted to rice and corn, whether working on a landed estate or not. The system was implemented through a system of sharecropping and/or lease-tenancy. Land bank was tasked to collect 15-year land amortizations from beneficiaries at the cost of the value of the land plus six percent interest per annum. 1973 - LANDBANK was in financial distress. It lacked the resources and the capital needed to implement the land reform programs and lacked the structure to implement the programs efficiently. July 21, 1973 - Marcos signed Presidential Decree No. 251 which revitalized the bank. The decree granted LANDBANK a universal banking license with a social mission to spur countryside development. The decree expanded Land bank's power to include lending for agricultural, industrial, homebuilding and home-financing projects and other productive enterprises, as well as lending to farmers' cooperatives and associations to facilitate production, marketing of crops and acquisition of essential commodities. Land bank was also required by the decree to provide timely and adequate support in all phases involved in the execution of agrarian reform and also increased its authorized...

Words: 473 - Pages: 2

Premium Essay

Ninoy

...especially when he speaks with the press. He commits a lot of stupid pronouncements and sometimes what he says is beyond comprehension. He should get himself a media coach to train him in handling himself around the press and the whole country. 2. Hacienda Luisita With the ascent of President Benigno Aquino III to the presidency, the future of Hacienda Luisita has become a focus of attention. This issue was supposed to be settled decades ago. But the Hacienda Luisita management failed to do their part on the agreement. Even though the agreement to settle the decades-old clash is included on the Comprehensive Agrarian Reform Program (CARP), the present machinations of the management is seen as deceptive as they only opt to give more than 1,000 hectares of land plus cash instead of distributing to farmers the more than 4,000 hectares already designated by the Department of Agrarian Reform for distribution to farmer-beneficiaries. There’s a report on Noynoy Aquino saying he’s got less than one percent share of the hacienda. Then, in another story, he was quoted as saying they could have gotten at least P3 billion if the 4,500-hectare land were...

Words: 344 - Pages: 2

Premium Essay

Land Bank of the Philippines

...Introduction Why do we need to borrow money?There a numerous reasons for the borrowing of money but common ones are; home loans, purchasing of cars, insurance, purchasing of business companies etc. People borrow money in general because they either can’t afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realize is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the bank. Money is a peculiar thing that life seems to be centered around. You need money to buy things, both necessities and desirables. You work to earn money and need money to get to work. You need money to travel and visit new places. You even need money to receive prescriptions for health. Before you sign up for a credit card or bank loan, there are some questions you need to answer before you borrow money. You should ask yourself if you need to spend the money, if you have other ways of financing the purchase and if you can afford to pay back the money you’re planning to borrow. Borrowing money becomes a problem if you borrow too much – that is, more than you can afford. It’s a problem if you borrow to where you can’t do other things or if you need to borrow to pay your regular monthly expenses. Just like your own money, you have to stay in control of the money you borrow from others. Borrowing money doesn’t have to be a bad thing...

Words: 1243 - Pages: 5

Free Essay

Land Bank of the Philippines

...LANDBANK OF THE PHILIPPINES HISTORY * August 8, 1963 LANDBANK was established as part of the Agricultural Land Reform Code, or Republic Act No. 3844 to help with land reform, especially the purchase of agricultural estates for division and resale to small landholders and the purchase of land by the agricultural lessee. * In 1965, LANDBANK's by-laws were approved and its first board of trustees was formed, with the Secretary of Finance as chairman. * In 1988, LANDBANK became the financial intermediary for the Comprehensive Agrarian Reform Program (CARP) * February 23, 1995, LANDBANK's charter was once again amended. Its authorized capital was increased to nine billion pesos and it became an official government depository. LANDBANK OF THE PHIL; * The Land Bank of the Philippines is a government financial institution that strikes a balance in fulfilling its social mandate of promoting countryside development while remaining financially viable. * The profits derived from its commercial banking operations are used to finance the Bank's developmental programs and initiatives. * LANDBANK also ranks among the top five commercial banks in the country in terms of deposits, assets, loans and capital. * Its special focus is to serve the needs of the farmers and fishermen. * It is an official depository bank of the Republic of the Philippines. * It is one of the biggest government-owned and/or controlled corporations in the Philippines. * Its...

Words: 1646 - Pages: 7