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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1013 -
RE-STRUCTURING THE ORGANIZATIONAL FRAMEWORK OF THE FOOD TERMINAL,
INCORPORATED, PROVIDING FUNDS THEREFOR, AND FOR OTHER PURPOSES |
The Minister, Ministry of Finance
The Minister, Ministry of Labor
The Minister, Ministry of Energy
The Minister, Ministry of Justice
The Chief Justice, Supreme Court
of the Philippines
The Governor, Central Bank of the
Philippines
The President, Land Bank of the
Philippines
The President, Philippine Veterans
Bank
The Administrator, National Grains Authority
The President MERALCO
The President, Food Terminal
Incorporated
All Others Concerned
WHEREAS, Food is a basic need of man and Government is committed to insure continuous and adequate food supply at reasonable price to the Filipino people;
WHEREAS, there is need to stabilize farm price of basic food items to assure fair returns on investments and to serve as incentive for higher productivity;
WHEREAS, it is imperative to integrate and conserve Government resources for a systematic marketing of basic food commodities;
WHEREAS, the food terminal, incorporated, has to re-orient its socio-economic thrusts and to re-structure its organizational and financial framework with the end in view of streamlining its operations.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, in order to attain the above objectives, do hereby direct that:
1.
The organizational framework of the food terminal, incorporated (FTI),
be re-structured in order to effectively attain socio-economic
objectives;
2. The FTI be
included in the category of government owned/controlled
corporations with the same compensation structure as the agriculture,
trading and promotions sector;
3. The FTI be
made a beneficiary of the price stabilization subsidy under the social
pricing and development adjustments fund for government entities
covered by the Annual General Appropriations Act;
4. The FTI be
reimbursed the sum of P20 M incurred as losses in 1979 for food trading
operations, which amount shall be taken from the Price Stabilization
subsidy of the General Appropriations Act;
5. The
Philippine National Bank and the Land Bank of the Philippines shall
extend an initial credit line to FTI in the amount of P50 Million each,
to be utilized for food trading operations, Provided, that all
availments by FTI from said credit line shall be guaranteed by the
national government;
6. The
Philippine National Bank and the Philippine Veterans Bank shall
re-structure FTI's outstanding obligation with them amounting to
P60.183 Million and P7.032 Million, respectively, to be amortized
within five years at preferred interest rate;
7. The Central
Bank of the Philippines shall rediscount the commercial papers of FTI
presented by PNB and LBP at the rate of 3 per cent per annum and said
banks shall, in turn charge FTI 3 per cent over and above the said CBP
rediscounting rate or a total rate of 6 per cent per annum;
8. The
National Grains Authority and the FTI shall evolve a linkage
arrangement with the primary objective of complementing the latter's
capability to stabilize prices of basic commodities and to assure
continuous and adequate food supply to the nation;
9. The
National Grains Authority shall assist the FTI's marketing operations
by directly engaging in the procurement of Farm and Marine Products at
their respective sources, utilizing FTI funds and NGA's own facilities
and personnel, Provided, however, that in the event FTI funds could not
immediately be made available, NGA shall make use of its own funds for
said procurement operations subject to reimbursement by the FTI of the
expenses incurred relative thereto;
10. The FTI
shall be exempted from the payment of all income taxes, franchise taxes
and realty taxes to the National Government, its provinces,
cities, municipalities and other government agencies and
instrumentalities; from all filing, docket, and service fees, bonds and
other charges or costs in any court or administrative proceedings in
which the FTI may be a party litigant, and from documentary and science
stamp taxes for all documents or contracts executed by or in favor of
FTI;
11. The FTI,
in coordination with the appropriate government agencies entities,
shall have the power to enforce all price ceilings in food commodities
set by the government and to issue such rules and regulations as may be
necessary to implement the same. For this purpose, the President, Food
Terminal, Incorporated, shall henceforth, be a member of the Price
Stabilization Council created by virtue of Presidential Decree
No. 1674;
12. The
MERALCO shall reduce its power charges to FTI at the same rates for
hospitals and other institutions performing socialized functions;
13. The FTI
President shall form a selection board to evaluate and screen officials
and employees of the FTI; Provided, that all personnel who cannot be
absorbed by the new organization, or who cannot transfer or be
transferred to other agencies, or who prefer to retire, or are to be
laid off, shall be given gratuity pay equivalent to one month salary
for every year of service but in no case more than twenty-four months
in addition to all other benefits to which they are entitled under
existing laws and regulations and for this purpose, there is hereby
appropriated the sum of Five Million Pesos or such amount as may be
necessary, out of the funds of the National Treasury not otherwise
appropriated.
14. The sum of
P9.665 Million due as real estate taxes to the municipality of Taguig,
Rizal and the amount of P7.794 Million due as duties and taxes to the
Bureau of Customs shall be condoned.
DONE in the City of Manila, this 19th day of April, in the year of Our Lord, Nineteen Hundred and Eighty.
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