The impending enactment of a proposal to condone the loans of agrarian reform beneficiaries would be a big boost to agricultural production, according to House of Representatives Speaker Martin Romualdez and Albay 2nd District Rep. Joey Salceda.
The bicameral version was ratified by both Houses on March 22, 2023 and was submitted for President Ferdinand Marcos Jr.’s signature.
Salceda, one of the bill’s authors, believes productivity gains from this legislation would be around P33.5 billion per year.
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