KMU: SC prevents Noy from use of coco funds for CCT 02/03/2012

KMU: SC prevents Noy from use of coco funds for CCT

02/03/2012
The militant peasant group Kilusang Magbubukid ng Pilipinas (KMP) said that the Supreme Court (SC) ruling on the multibillion-peso coco levy fund prevents President Aquino’s administration from using the money to fund the controversial conditional cash transfer (CCT) program.

The KMP issued the statement after reports cited the Jan. 24 SC ruling declaring the 24 percent of the funds as “owned by the government to be used only for the benefit of all coconut farmers and for the development of the coconut industry.”

“In a way, the high court ruling prevents the cash-strapped Aquino government from using the multi-billion coconut levy funds for its own benefit like channelling the funds to the controversial CCT scheme and to buy Petron shares,” KMP deputy secretary general Willy Marbella said..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20120203nat5.html