THE Cooperative Development Authority (CDA) will support the stand of various cooperatives against Republic Act (RA) 9510 or the Credit Information System Act (CISA), if that will be in the best interest of the sector.
Undersecretary Orlando Ravanera, CDA chairman, made the statement during the Cooperative Forum held at the Cebu CFI Community Cooperative Building last week. About 300 lawyers, coop chairpersons and managers attended the forum, sponsored by CFI and Northern Luzon Federation of Cooperatives (NORLU).
“Our cooperative movement is confronted with challenges especially RA 9510 or CISA, which violates, among others, the principles of subsidiarity and autonomy of cooperatives. This is one of the reasons most cooperatives want to be excluded from CISA,” read a CFI and NORLU statement.
They are also opposing the bills of Sen. Franklin Drilon and Rep. Eric Singson to remove tax privileges of cooperatives.
“What is in the best interest of the cooperatives, this office will support,” Ravanera said.