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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1143 -
AUTHORIZING THE RELEASE OF TWO HUNDRED TWENTY MILLION PESOS
REPRESENTING THE AMOUNT ADVANCED BY THE NATIONAL FOOD AUTHORITY OUT OF
ITS CORPORATE FUNDS FOR CONSTRUCTION OF ADDITIONAL WAREHOUSES AND
ACQUISITION OF POST-HARVEST FACILITIES |
The Administrator, National Food Authority
All concerned
WHEREAS, the National Food Authority has been entrusted with the task of constructing warehouses of grains and acquisition of modern post-harvest facilities in areas of production and other strategic places to meet the critical shortage of warehousing facilities in the country;
WHEREAS, the National Food Authority has disbursed the amount of Two Hundred Twenty Million from its own corporate funds for the construction of warehouses and purchase of post harvest facilities during the period 1978-80;
WHEREAS, there is a need to purchase additional modern post-harvest equipments and facilities and to construct warehouses for the coming crop year 1981-82;
WHEREAS, The National Food Authority under P.D. 1770 has an authorized capitalization of Five Billion Pesos, to be wholly subscribed and paid by the national government, local government units and or other government owned or controlled corporations;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby order the following:
1.
The Ministry of the Budget to reimburse to the National Food Authority
the amount of Two Hundred Twenty Million Pesos (P220,000,000.00)
representing the amount advanced by the National Food Authority out of
its corporate funds. This reimbursement shall be considered as equity
investment to the authority.
2. The
National Food Authority to utilize the reimbursement for the
acquisition of grain driers and other post-harvest equipment and
facilities and the construction of additional warehouses, and as equity
contribution of the government to National Food Authority's
capitalization.
The institutions concerned shall adopt such measures as may be necessary and appropriate to implement and achieve the objectives of this Letter of Instructions.
All provisions of other Letters of Instructions and executive orders inconsistent with this Letter of Instructions are hereby repealed or modified.
These instructions shall take effect immediately.
Done in the City of Manila, this 25th day of May, in the year of Our Lord nineteen hundred and eighty-one.
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Since 19.07.98.
