Marcos erases P1-B agrarian debts of 21,000 Isabela farmers

President Marcos yesterday distributed at least 25,000 certificates of condonation and release of mortgage (CoCROM), erasing the P1 billion in agrarian debts of 21,000 farmers in Isabela.

- By BELLA CARIASO

"Covered by these certificates are almost 22,000 hectares of agricultural lands in Isabela, equivalent to at least P1 billion debts that we are erasing," Marcos said during his speech at Josefina Albano Cultural Sports Complex in Cabagan, Isabela.

The President added that with the CoCROM, the farmers will no longer pay for the amortization of their lands.

"You will only worry on how to cultivate your lands and make them productive," Marcos added.

Republic Act 11953, or the New Agrarian Emancipation Act, erases all unpaid principal amortizations, interests and surcharges on agricultural lands awarded under the government's agrarian reform program.

Agrarian Reform Secretary Conrado Estrella III has said the government targets to distribute at least 300,000 CoCROMs before the end of the year.

At the same time, Marcos also distributed more than 450 Certificate of Land Ownership Award to more than 340 farmer beneficiaries in the province.

"This covers at least 500 hectares of lands in Isabela," he said.

During his speech, Marcos announced the distribution of P25 million in indemnity checks to 1,400 beneficiaries in Mindoro who were affected by the recent typhoons.