A total of 111 agrarian reform beneficiaries (ARBs) in Kabankalan City, Negros Occidental, have been relieved of debts amounting to P15.378 million under the Republic Act (RA) 11953 or the New Agrarian Emancipation Act.
The certificates of condonation with the release of mortgage (CoCRoMs) were distributed to identified farmers under the Department of Agrarian Reform (DAR) Negros Occidental 2 (South) in a ceremony held on Tuesday, April 29, led by Provincial Agrarian Reform Program Officer II Arnulfo Figueroa, District Manager Elma Popioco, and City Assessor Roldan Dunque.
“We continue to stress the importance of the parcel of land awarded to the beneficiaries and the opportunities it presents,” Figueroa said in a statement on Thursday.
On behalf of the recipients, ARB Romulo Jimenez expressed his appreciation to the DAR for the financial relief.
The distribution of the CoCRoMs in Kabankalan City came after 25 ARBs in Bago City also received significant financial relief after the government condoned their debts totaling P3.48 million.
The beneficiaries from Barangay Bacong in Bago City were presented with CoCRoMs on April 15.
RA 11953 writes off all outstanding loans, including accrued interests, penalties, and surcharges, incurred by ARBs for lands awarded to them, allowing the farmers to redirect their resources toward enhancing their agricultural productivity.
The New Agrarian Emancipation Act also includes a provision exempting the payment of estate tax on lands awarded under the Comprehensive Agrarian Reform Program.*PNA