Monday, September 26, 2022
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HomeProvincial News300,000 ARBs in Sugarlandia to benefit from amortization freeze

300,000 ARBs in Sugarlandia to benefit from amortization freeze

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BACOLOD CITY, Negros Occidental, Philippines – Around 300,000 Agrarian Reform Beneficiaries (ARBs) in Negros Occidental would benefit from the one-year moratorium on the payments of amortization and interest.

This was announced by President Ferdinand Marcos, Jr., according to lawyer and Regional Director Sheila Enciso of the Department of Agrarian Reform (DAR) for Western Visayas said.

Enciso said that the initiative is a part of PBBM’s promise to give farmers their own land.

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Negrosanon ARBs were given an estimated 200,000 hectares of land, with prices depending on hectarage and type of crop planted.

Enciso added that about 429,000 hectares of land was allocated in ARBs allocated for total land allocation in the whole Western Visayas region.

ARBs are given an option whether to pay monthly, quarterly, or yearly amortization, which must be fully paid in 30 years.

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The regional director said that its implementation may start mid-October or early November, and added that she is still waiting for the Executive Order to be published in the Gazette or in any national paper of circulation for DAR to make the Implementing Rules and Regulations on the moratorium.

She also said that the number of ARBs who will benefit from the moratorium could change.

PBBM recently signed the Executive Order on 13 September 2022 for the Moratorium on the Annual Amortization of Agrarian Reform Beneficiaries.

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Lyssa Raquinel
Lyssa Raquinel
DNX trainee reporter.
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