CAGAYAN DE ORO CITY (PIA) — Senator Imee Marcos vowed support to cooperatives during her visit to the 3rd Consumers, Marketing, Producers, and Logistics (CMPL) National Summit from September 12 to 15, 2024 at Aquilino Q. Pimentel Jr. International Convention Center, Cagayan de Oro City.
In her speech, Marcos emphasized that cooperatives are the backbone of the country’s economy but noted the need for new laws and amendments to protect them better.
“Alam natin na sa panahong ito, kulang na kulang ang ating mga batas. Meron tayong nakapending amendments providing for a revised Cooperative Code of the Philippines. Dahil alam natin sa panahon ng krisis at pandemya, kooperatiba ang unang naaapektuhan at marami ang nahihirapan,” she said.
(In this day and age, our laws fall short. We have pending amendments to revise the Cooperative Code of the Philippines. During crises and pandemics, cooperatives are the first to be affected, and many face significant challenges.)
Marcos stressed the urgency of revising cooperative laws to ensure that every family can achieve the dream of stable employment and that cooperatives can grow and thrive.
Her proposed revisions and updates include tax exemptions for all agricultural cooperatives—whether producers, processors, marketers, or distributors—additional benefits, free registration, reduced capital requirements, direct product sales to government agencies like the AFP and DSWD, preferential bank loan rates, and opportunities for joint ventures with private sectors.
She also urged the Cooperative Development Authority to advocate for larger budget allocations and strengthen partnerships with the Department of Agriculture, Department of Agrarian Reform, and Department of Transportation. Marcos believes closer collaboration between these agencies can lead to programs that significantly benefit cooperatives.
The senator aims to empower cooperatives and Filipino farmers through these reforms, ensuring they are protected and equipped to succeed in a rapidly changing economy. (JAKA/PIA-10)
