A defining issue for Aquino
It is sad the Supreme Court slammed the door on coco farmers (Inquirer, 3/29/12) when it ruled that the 20 percent of San Miguel Corp. shares belongs to one lucky individual and not to the hapless coconut farmers. The Supreme Court obviously did not take into consideration the following:
The “social context” involved here. The levy was imposed “for the benefit of the coconut farmers”—they who constitute about one-fourth of our countrymen, living with their families and dependents in our 21,000 coconut-producing barangays. The National Anti-Poverty Commission has confirmed that they are the “poorest of the poor and the most socially insecure sector of society.”
The violation of fiduciary trust. One may not borrow from the bank of which he is president and director an amount so big as to enable him to buy 20 percent of the shares of stock of the biggest conglomerate in the country. In Filipino, such violation is aptly called “bantay-salakay.”
Because of these and more, a dissenting judge labeled the Court’s majority decision on this case as the “biggest joke of the century.” Former Executive Secretary Joker Arroyo considered the ruling “an insult to President Cory.” An April 14, 2011 Inquirer editorial said that the “Tree of Life” has become the “Tree of Injustice.” Much earlier, Inquirer columnist Juan Mercado said, “Never were so many robbed of so much by so few.”
The Supreme Court has ruled that another block of common shares, 24 percent and worth P15 billion, belongs to the farmers. But against the opposition of small coconut farmers, the Court, upon Cocofed’s proposal, approved the conversion of this block of shares into preferred shares, pegging the redemption amount at 75 per share, much lower than the prices the shares could command at the market. The farmers effectively lost a humongous amount in the process. Panalo na, talo pa rin.
The levy was unilaterally imposed on the coconut farmers during the martial law years. The presidential decrees mandating it repeatedly said the imposition was “for the benefit of the coconut farmers” with Statements of Policy vowing to promote the coconut industry’s growth and development so that the coconut farmers shall become direct participants in and beneficiaries of the levy.
These days call to mind the sacrifices of the coconut farmers, to whom we pay homage. The Inquirer reported last March 30 that Katarungan, a farmers’ group, has urged President Aquino to make a stand. Now. This could be his defining moment. National interest is involved. The issue affects the wellbeing of a big sector of society.
And is the Supreme Court powerless to correct a patent injustice? Perhaps now is a good time as any to reflect on what can be done to make the lives of many of us a bit easier.
—OSCAR F. SANTOS,
Coconut Industry Reform
(COIR) Movement Inc.,
63 Masikap Ext.,
Barangay Central, Diliman, QC
