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Business

RCI awaits further instructions from DAR

Richmond Mercurio - The Philippine Star
RCI awaits further instructions from DAR
In a disclosure, RCI said it is firm on its position to comply with the DAR mandate as regards to the alleged 50,000 affected individuals.
Businessworld / File

MANILA, Philippines — Roxas & Co. Inc. (RCI) said it is awaiting further instructions from the Department of Agrarian Reform (DAR) for its next actions on the properties and affected parties over the disputed lands in Batangas.

In a disclosure, RCI said it is firm on its position to comply with the DAR mandate as regards to the alleged 50,000 affected individuals.

The company also said it is willing to cooperate with the affected barangays to minimize disruption within their areas, if any.

“To date, there are no actions planned on the properties and affected parties until our company receives further instructions from the DAR,” RCI said.

“The company is also studying and finalizing the highest and best use study and master plan for the estate; thus, any actions taken or to be taken on or against the properties concerned are mere speculations at this point,” it said.

RCI said that apart from the duty to vacate peacefully the properties to be distributed to the agrarian reform beneficiaries (ARBs), it has no other financial obligations to the latter.

“On the call for the banks not to grant financial support or any extension of loans to RCI until such time that the firm settled its obligations with affected ARBs over the disputed lands, the consolidated order is clear,” the company said.

Last week, it was reported that some 1,000 residents of Batangas gathered at Makati’s Freedom Park to protest the plans of RCI to evict some 50,000 individuals from Haciendas Palico, Banilad and Kaylaway covering up to 2,941 hectares in nine barangays.

Batangas farmers have been protesting a DAR order concerning over 2,941 hectares across RCI’s three haciendas, as they called for a more equitable distribution of the land and more compensation for the ARBs as well as the informal settlers who will be displaced.

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