MANILA, Philippines -- The House of Representatives will work for the passage of the proposed 5-year extension of the Comprehensive Agrarian Reform Program (CARP), which Speaker Prospero Nograles hopes will be a better version of the existing program, before Congress adjourns on June 13.

"The CARP extension, once it becomes a law, should be an opportunity for the government to ensure that the benefits of development will flow and reach the countryside by ensuring the productivity of Filipino farmers," Nograles said Thursday in a statement.

The bill extending the CARP was approved Wednesday by the House committee on agrarian reform.

Nograles acknowledged that the 20-year old law contains "many loopholes" that need amendments, especially to address the current food crisis. "For one, we really have to put in place a provision prohibiting [the] conversion of agricultural lands [to other uses] to stop the decline of agricultural production and boost our food security program."

He also mentioned the lack of support and monitoring by government to ensure land distributed to farmers is productive.

"I've heard stories about beneficiaries using their lands as collateral to loan money just to be able to buy a new television set. All distributed lands should be highly productive especially now that we are in the middle of a global food problem," Nograles added.

The substitute bill provides for the creation of a Joint Congressional Oversight Committee (JCOC) to monitor the program?s implementation, particularly land acquisition and distribution, and other key components during the extension period.

The proposed extension also mandates the Department of Agrarian Reform (DAR) to submit an annual report to JCOC, which may also conduct public hearings related to the DAR report if requested by a CARP stakeholder.

The bill also recognizes the right of rural women to own and control a land distributed under the new law.

It also provides for a P100-billion appropriation for land acquisition, distribution and other funding requirements, and provides for other sources of funding, including the proceeds of sales by the Assets Privatization Fund; the receipts of assets and sales of ill-gotten wealth recovered through the Presidential Commission on Good Governance without prejudice to the amount appropriated for compensation to victims of human rights violations under the applicable law; the proceeds from the disposition and development of the properties of government in foreign countries; the income and collections from the agrarian reform operations, projects and programs of agencies implementing CARP; financial assistance from legitimate sources; yearly appropriations of not less than P5 billion from the General Appropriations Act; and other government funds not likewise appropriated.