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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 42 -
TRANSFERRING THE PHILIPPINE CROP INSURANCE CORPORATION FROM THE
DEPARTMENT OF AGRICULTURE TO THE DEPARTMENT OF FINANCE
WHEREAS,
a modernized agricultural sector founded on social equity is one of the
key components of the government’s national agenda for poverty
alleviation and national development;
WHEREAS, the Philippine Crop Insurance Corporation (“PCIC”), created
under Presidential Decree No. 1467 dated June 11, 1978, is mandated to
provide insurance protection to farmers against losses arising from
natural disasters, plant diseases and pest infestation;
WHEREAS, the PCIC was attached to the Department of Finance by virtue
of Executive Order No. 292 dated July 25, 1987, otherwise known as the
Administrative Code of 1987;
WHEREAS, the PCIC was thereafter attached to the Department of
Agriculture for budgetary purposes by virtue of Republic Act No. 8175
approved on December 29, 1995;
WHEREAS, in order for PCIC to effectively perform its mandate of
providing insurance protection to farmers, it is necessary to transfer
the PCIC to the Department of Finance, which is the appropriate
department primarily responsible for the sound and efficient management
of the financial resources of the government, its subdivisions,
agencies and instrumentalities, and primarily tasked to review and
coordinate the policies, plans and programs of government financial
institutions and to recommend to them courses of action consistent with
national government fiscal policies, plans and programs;
WHEREAS, under Sec. 31, Chapter 10, Title III, Book III of the
Administrative Code of 1987, the President has the continuing authority
to reorganize the Office of the President;
NOW THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the
Philippines, by virtue of the powers vested in me by law, do hereby
order:
Section 1.
In accordance with Republic Act No. 8175, approved on December 29,
1995, the President shall appoint the Chairman of the PCIC Board of
Directors from among its members, while the PCIC President shall be the
ex officio Vice-Chairman of the PCIC Board of Directors. The
Vice-Chairman shall assist the Chairman and act in his stead in case of
absence or incapacity.
Sec. 2.
Sec. 3.
City of Manila, October 15, 2001
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