EXECUTIVE ORDER NO. 158
EXECUTIVE ORDER NO. 158 - CREATING
THE “TULONG SA TAO FUND” AND FOR OTHER PURPOSES
WHEREAS,
the National Government has embarked on a Rural-Based Employment
Program to pump-prime the economy and to address without delay the
critical problem of unemployment in the country;
WHEREAS, while the Rural-Based Employment Program will be largely
focused on immediate-impact projects in infrastructure and similar
areas of relatively short duration, there is a need to provide for
employment generation opportunities in productive activities on a
continuing basis;
WHEREAS, in line with the national employment-generation effort and in
response to the need for generating continuing employment in productive
activities, the Ministry of Trade and Industry has developed the
“Tulong Sa Tao” Employment Generation Program;
WHEREAS, in order to implement the “Tulong Sa Tao” Employment
Generation Program, a funding of at least one hundred million pesos is
needed as a revolving fund to provide credit facilities to as many
beneficiaries as possible for the purpose of employment generation;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do
hereby order:
Section 1. Creation of the Revolving Fund. — There is
hereby created a revolving fund to be known as the “Tulong Sa Tao
Fund”, hereinafter referred to as the “Fund”, which shall be
administered by the Ministry of Trade and Industry, hereinafter
referred to as the “Ministry.”
Sec. 2. Composition of the Fund: purposes thereat.
— (1) The fund shall consist of an initial seed money in the amount of
one hundred million pesos which is hereby allocated and out of which,
thirty million pesos is hereby released from the applicable lump-sum
fund of the National Government in the 1986 General Appropriations Act
to the Ministry, to be utilized for the Self-Employment Loan Assistance
component of the “Tulong Sa Tao” Employment Generation Program. The
balance of seventy million pesos shall likewise be released from the
lump-sum loan fund of the National Government in the 1987 General
Appropriations Act to the Ministry, to be allocated among the “Tulong
Sa Tao” Employment Generation Program’s components as herein provided
in the proportion to be determined by the Ministry, and shall be
utilized for the purpose indicated below, as follows:
COMPONENT/FUND
(1)
Self-employment
Loan Assistance
(2)
Subcontracting
Financing
PURPOSE
To encourage self-employment by
providing loans to entrepreneurs
To encourage subcontracting by
providing financing for subcontracting businesses.
(b) All income and interest earned by the Fund shall
accrue to the said Fund and may be used for relending, consistent with
the purposes of this Executive Order, as well as to defray the
operational, administrative, and other expenses related to the
implementation of this Executive Order. The compensation of contractual
and casual employees hired to assist in the operations under this
Executive Order may be charged to the Fund subject to the rules and
regulations issued by the Office of Budget and Management.
Sec. 3. Role of Financial Institutions. — The
initial seed money authorized for outlay under this Executive Order
shall be remitted to the government financial institutions selected by
the Ministry. It shall be constituted and administered as trust funds
under such terms conditions as may be agreed upon by the Ministry and
the financial institutions concerned.
Sec. 4. Powers and Functions of the Minister of
Trade and Industry relative to the administration of the Fund. — The
Minister shall have the following powers and functions relative to the
administration of the Fund:
(a)
To identify areas and localities that will be given
priority in the implementation of the “Tulong Sa Tao” Employment
Generation Program;
(b) To
designate the units, officers, and staff of the Ministry that shall
implement the “Tulong Sa Tao” Employment Generation Program;
(c) To select
the government financial institutions that will administer the trust
fund;
(d) To
determine the amount of loans to borrowers from the Fund, including the
private voluntary organizations, rural banks and development banks; the
qualifications of borrowers; and the terms and conditions of the loans;
(e) To
exercise such other powers and functions required for the success of
the “Tulong Sa Tao” Employment Generation Program.
Sec. 5. Reports. — The Ministry shall submit to
the Office of Budget and Management a quarterly report of the income
and expenditures of the Fund.
Sec. 6. Rules and Regulations. — The implementing
rules and regulations of this Executive Order shall be jointly
formulated by the Ministry of Trade and Industry and the Office of
Budget and Management.
Sec. 7. Effectivity. — This Executive Order shall
take effect immediately.
Done in the City of Manila,
this 13th day of April in the year of Our Lord, nineteen hundred and
eighty-seven.
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Since 19.07.98.