• About Us
  • Privacy Policy
  • Contact
Mortgage Insurance Center
  • Home
  • Mortgages
  • Health Insurance
  • Home Insurance
  • Life insuranace
  • Finance Laws
    • Banking Laws
    • Assets
    • Interest Rate
    • Loans
No Result
View All Result
  • Home
  • Mortgages
  • Health Insurance
  • Home Insurance
  • Life insuranace
  • Finance Laws
    • Banking Laws
    • Assets
    • Interest Rate
    • Loans
No Result
View All Result
Mortgage Insurance Center
No Result
View All Result
Home Assets

DoF signals possible coco trust fund asset disposals

by Matthew Upton
May 29, 2022
in Assets
0
DoF signals possible coco trust fund asset disposals
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

[ad_1]

PHILSTAR

FINANCE Secretary Carlos G. Dominguez III is seeking a review of the assets obtained using the coconut levy funds in order to identify possible candidates for disposal, the Department of Finance (DoF) said in a statement.

The review will use as its basis a Commission on Audit (CoA) report on assets acquired using the coconut levy funds collected from farmers in the 1970s. It will be conducted by the Coconut Farmers and Industry Trust Fund (CFITF) Manager, Finance Undersecretary Antonnete C. Tionko, and the Trust Fund Management Committee (TFMC) Secretariat, headed by National Treasurer Rosalia V. de Leon. 

“Please go over this report and parse it, and to go through this with a fine-tooth comb, and report to the Committee as soon as possible of what is the real status of the assets, what can be disposed, what cannot be disposed, what’s tied up in court, and other related matters,” Mr. Dominguez was quoted as saying during the meeting of the committee, which he chairs.

The CoA report was presented at the 7th TFMC meeting on May 4.

Ms. Tionko said that the CoA audit report was a “good starting point” for a trust fund investment strategy to benefit coconut farmers.

Republic Act (RA) No. 11524 created the CFITF, which aims to raise coconut output, bring farmers out of poverty, and modernize the industry.

The CoA audit sought “to determine the completeness of the inventory (of assets), establish reasonableness of the asset valuation, trace the flow of the Coconut Levy Funds and to determine compliance with pertinent laws, rules and regulations on the reconveyance of the Coconut Levy Assets and/or Fund to the Republic.”

Assets of the coconut levy amounted to P113.88 billion as of 2020. The CoA audit knocked that total down to P111.25 billion.

“The TFMC also resumed discussions on the legal options available to speed up the disposal of several coco levy assets so that their proceeds can be used for the benefit of the country’s coconut farmers,” the DoF said. — Tobias Jared Tomas

[ad_2]

Source link

Previous Post

How I Learned To Stop Worrying, And Love The (Interest Rate) Bomb

Next Post

Biden Admin’s Reversal of Trump’s Deregulation Is Hurting Economy, Experts Say

Next Post
Biden Admin’s Reversal of Trump’s Deregulation Is Hurting Economy, Experts Say

Biden Admin’s Reversal of Trump’s Deregulation Is Hurting Economy, Experts Say

Popular Posts

Ajanta Pharma : Newspaper Advertisements
Life insuranace

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

by Matthew Upton
July 28, 2022
0

Close Provided by: TAIMING ASSURANCE BROKER CO.,LTD. SEQ_NO 4 Date of...

Read more

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

20% interest rate on credit cards! Here’s how to avoid paying those high rates :: WRAL.com

Sens. Murphy, Blumenthal, Colleagues Reintroduce the Behavioral Health Coverage Transparency Act – InsuranceNewsNet

$1 billion in loans still available for agricultural funding in Ohio

How Long Do Car Accidents Stay on Your Record?

Rocket Mortgage Classic Wagers: Pick To Finish Top-10

Load More

Popular Posts

Hingham DPW Workers Deserve Respect, Decent Wages and Affordable Health Insurance

Hingham DPW Workers Deserve Respect, Decent Wages and Affordable Health Insurance

by Matthew Upton
July 5, 2022
0

Propy introduces blockchain title and escrow service

Propy introduces blockchain title and escrow service

by Matthew Upton
May 26, 2022
0

Biden administration sued after fertility awareness methods cut from health coverage

by Matthew Upton
June 15, 2022
0

Ajanta Pharma : Newspaper Advertisements

Taiming Assurance Broker : Announcement on behalf of the major subsidiary Link-Aim Life Insurance Broker Co.,LTD. to distribute dividends.

July 28, 2022

20% interest rate on credit cards! Here’s how to avoid paying those high rates :: WRAL.com

July 28, 2022
Edelweiss General Insurance launches India’s first on-demand, mobile telematics-based comprehensive motor insurance – SWITCH

Sens. Murphy, Blumenthal, Colleagues Reintroduce the Behavioral Health Coverage Transparency Act – InsuranceNewsNet

July 28, 2022

Categories

  • Assets
  • Banking Laws
  • Finance Laws
  • Health Insurance
  • Home Insurance
  • Interest Rate
  • Life insuranace
  • Loans
  • Mortgages

Tags

home loans mortgage personal loan
  • Privacy Policy
  • contact us

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • About Us
  • contact us
  • Home
  • Home 2
  • Home 3
  • Privacy Policy

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.