Cory hacienda deal scrapped.

(From Philippine Daily Inquirer)

Byline: Blanche S. Rivera

IN AN UNPRECEDENTED DECIsion, the Department of Agrarian Reform yesterday canceled the 16-year-old stock distribution option agreement of Hacienda Luisita, paving the way for the distribution to farmers of the nearly 5,000-hectare agricultural estate of the family of former President Corazon Aquino.

This is the first time that the government has cancelled a stock distribution agreement between farm workers and landowners since the Comprehensive Agrarian Reform Program started in 1988.

Agrarian Reform Secretary Nasser C. Pangandaman adopted the recommendation of the Task Force Luisita and a special legal team to revoke the SDO on the ground that it had failed to improve the lives of more than 5,000 farmer beneficiaries.

After 16 years of implementing the SDO at the hacienda, the department is saddened by the fact that the living conditions of the plantation workers did not improve. Worse, it deteriorated through the years, which is contrary to the vision of the CARP, Pangandaman told a press briefing.

The Hacienda Luisita Inc. immediately convened its legal team to map out a strategy against the governments decision to scrap the stock distribution plan that has kept the vast sugar estate in the Cojuangco family for 16 years.