Benguet coops extend help during ECQ
LA TRINIDAD, Benguet, Apr. 24 (PIA) – – Cooperatives continue to live up to their social responsibility even during this Enhanced Community Quarantine sharing their resources to the community and their members.
Orlando Pacya, this town’s Municipal Cooperative Development Officer, cited some coops such as the Benguet State University and Community Multi-Purpose Coop (BSUCMPC), Benguet Operators and Drivers Association, Baguio Tomay Jeepney Operators and Drivers Association, and the La Trinidad Vegetable Trading Post Coop, Taloy Norte Farm Multi-Purpose Coop, Benguet Government Employees Multi-Purpose Coop, Drivers, Operators, Employees, Residents and other Sectors-Multipurpose Cooperative, Benguet Agrarian Reform Multi-Purpose Coop, SRT La Trinidad Coop of Benguet, Tomay Credit Coop , and Land Bank Employees Association Multi-Purpose Coop ,among others which extended help to local government units and directly to barangay beneficiaries.
Mayor Romeo Salda is grateful to the accrued cash donations of the cooperatives in the area amounting to more than P1 million to date.
Some coops in Benguet gave cash and in kind donations to some areas of the province and even outside, according to Provincial Cooperative Development Specialist Brian Agramos.
The BSUCMPC for instance donated cash amounts the province, La Trinidad, Buguias, Mountain Province and Baguio City LGUs. It aso provided emergency cash assistance amounting to P1, 000.00 per coop member and waived two-month rental of its lessees in all the commercial establishments they own.
Agramos said the coops’ act of sharing “is part of their social responsibility as they are exempt in paying taxes. That’s the way they could help the local government unit apart from giving directly to the coop members.”
The coop donations can be charged to the Community Development Fund (CDF) or if not enough, can be taken from the operations cost, he added.
The Cooperative Development Authority issued a memorandum directing all coops the utilization of the CDF, Optional Fund, General Reserve Fund and release of Interest on Share Capital and Patronage Fund or the so called dividends and other assistance to coop members.
The directive encourages the CDF utilization amounting to not less than three percent of their net surplus for projects or activities that would benefit the community where the cooperative operates identified and included in the respective social development fund. It allows its use in response to the COVID-19 pandemic to reinforce prevention and control actions of the government.
Agramos said coops are expected to report their undertakings in support to COVID operations as a justification of their tax-exemption. (JDP/SCA-PIA-CAR, Benguet)
source https://pia.gov.ph/news/articles/1039839