Press Release - Imee: Palawigin ang ating mga coop, lalo na sa bukid

Senator Imee R. Marcos sponsored a legislative measure Monday, September 9, 2024, that aims to further empower and strengthen cooperatives, which are considered a lifeline for farmers, fisherfolk, small businesses, and families as proven during the COVID-19 pandemic and other crises.

"Sa panukalang ito, layon nating gawing mas madali at mas abot-kaya ang kanilang mga pangarap sa pamamagitan ng tax exemption, mas mababang kapital, at maluwag na patakaran sa pagsasagawa ng joint venture," Marcos said.

Senate Bill No. (SBN) 2811, which proposes the passage of the "Revised Cooperative Code of the Philippines," aims to shore up the financial position and capacities of agricultural cooperatives by allowing farm and fisheries clustering and consolidation; and inter-cooperative arrangements "to pursue value and supply chain solutions and other agribusiness development programs."

This encourages big cooperatives to "adopt" micro agricultural cooperatives by infusing capital and know-how.

The bill also exempts duly registered agricultural cooperatives and non-agricultural cooperatives whose Reserve Funds have an existing balance of P100 million and below from all national internal revenue taxes, fees and charges, customs duties, advance sales or compensating taxes on their importation of machineries, equipment, accessories, and spare parts.

Agricultural cooperatives are exempted from payment of registration fees, and their capital requirement lowered. They are also given the ability to enter into joint ventures with private partners, directly sell to national and local governments, and given preferential rates for loans made in government financial institutions.

Data from the Cooperative Development Authority (CDA) show, 20,752 cooperatives were registered in 2023, with membership reaching 12.4 million.

Marcos stressed, cooperatives have been a "tested and proven instrument of government to promote rural development," aligned with Section 15, Article XII of the Constitution which states, "Congress shall create an agency to promote the viability and growth of cooperatives as instruments for social justice and economic development."

"As early as 1973, my late father,