LOOK: Copy of EO imposing moratorium on CARP payments
INQUIRER FILE PHOTO
MANILA, Philippines — Here is a full copy of Executive Order No. 4 signed by President Ferdinand “Bongbong” Marcos Jr. on Tuesday — his 65th birthday — which places a one-year moratorium on the amortization and interest payments of agrarian reform beneficiaries.
READ: Executive Order No. 4
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Under EO No. 4, the beneficiaries can skip paying the annual amortization and the 6 percent yearly interest required of them under the Comprehensive Agrarian Reform Law (CARP).
The beneficiaries are required to pay a specified amount to the Land Bank of the Philippines, but the EO gives them reprieve considering the COVID-19 pandemic and other global events that disrupted the production of crops.
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Around 654,000 beneficiaries are expected to benefit from the order.
The Department of Agrarian Reform said that this was also a step closer to the president’s promise of to fully condone the existing agrarian reform loans amounting to P58.12 billion.
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