PCGG welcomes SC decision on gov’t’s UCPB shares

MANILA, Philippines - The Presidential Commission on Good Government (PCGG) welcomed yesterday a Supreme Court (SC) decision affirming the government’s ownership of the shares of business tycoon Eduardo “Danding” Cojuangco Jr. in the United Coconut Planters Bank (UCPB).

“The commission welcomes the affirmation of the Sandiganbayan’s finding that these assets are conclusively owned by the republic,” PCGG chairman Andres Bautista said.

The PCGG, however, has yet to receive an official copy of the high court’s ruling.

Bautista said that as previously ruled by the SC, the UCPB shares and all other coco levy assets are to be used only for the benefit of coconut farmers and for the development of the coconut industry.

He said the PCGG is working with other government agencies, including the Department of Finance and Philippine Deposit Insurance Corp., to determine what to do with the shares in the UCPB.

In a unanimous resolution promulgated Tuesday, the SC dismissed Cojuangco’s appeal of its decision last Nov. 27 that affirmed the Sandiganbayan decision in July 2003 that his UCPB shares were part of assets illegally acquired with coconut levy funds.

The SC held Cojuangco’s motion for reconsideration had no merit since it was “mere reiteration of the arguments that have already been previously pleaded, submitted and resolved by the court.”

Farmers groups welcome ruling

The Kilusang Magbubukid ng Pilipinas (KMP) said the SC ruling did not only strengthen the small coconut farmers’ legitimate claim over the 72.2 percent shares in UCPB but “reaffirmed the historical truth that President Aquino’s uncle plundered the coco levy funds.”

KMP deputy secretary-general Willy Marbella said the decision means the small coconut farmers owned the funds.             

“The government is only a trustee for the small coconut farmers, the genuine and legitimate owners of the funds,” he said. “The funds were forcibly exacted from small coconut farmers by the Marcos dictatorship.”

The KMP and the Coco Levy Funds Ibalik sa Amin (CLAIM), a group of coco levy funds claimants, said the President should immediately return to small coconut farmers the whole 72.2 percent shares in UCPB, along with the more than P70 billion recovered from San Miguel Corp. in October last year.

The farmers’ groups also called on Congress to give priority to House Bill 1327 or the proposed Genuine Small Coconut Farmers’ Fund Act of 2013 filed by Anakpawis party-list Rep. Fernando Hicap.

Under the bill, the Genuine Small Coconut Farmers’ Fund shall not be a part of the general funds of the national government and shall be used exclusively for the benefit of genuine small coconut farmers.

Section 6 of HB 1327 also states that the funds shall be apportioned to all coconut farmers in cash and other social benefits, including but not limited to pension, medical hospitalization and maternity benefits; and educational assistance.

The Anakpawis bill also seeks to finance socio-economic projects initiated by small coconut farmers and their organizations. – With Rhodina Villanueva