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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1428 |
WHEREAS, Letter of Instructions No. 178 promulgated to facilitate the purchase of the former ESFAC fertilizer plant by Planters Products, Inc. (PPI) and the eventual dispersal of the equity of PPI among farmers/end-users of fertilizers;
WHEREAS, pursuant to said Letter of Instructions, Planters Foundation Inc. (Foundation), a non-stock and non-profit corporation was established to accomplish the spirit of the Letter of Instructions No. 178;
WHEREAS, in order to fully implement the role of the Foundation, there is a need to strengthen the composition of the Board of Trustees of the Foundation for closer coordination with the government policy makers on Agriculture and Fertilizer;
WHEREAS, in order to bolster the government policy to provide adequate assistance to the agriculture sector there is a need to streamline the management of the Foundation in order to benefit the farmers;
NOW, THEREFORE I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and direct the following:
1)
Amend Letter of Instructions No. 178 in order to achieve closer
coordination between the Foundation and PPI with regard to the
composition of the Board of Trustees of the Foundation to reflect as
follows:
a)
Minister of Agriculture and Food Chairman
b) Minister of Trade and Industry
Vice Chairman
c) Minister of Finance Member
d) Governor of the Central Bank
Member
e) President of Philippine National
Bank Member
f) Two (2) Farmer Representatives to
be appointed
by the President upon
nomination of
the Minister of Agriculture
and
Food Member
2. All other Government agencies and instrumentalities involved in this arrangement are hereby enjoined to extend all assistance and cooperation necessarily for the implementation of this Letter of Instructions.
This Letter of Instructions shall take effect immediately.
Done in the City of Manila, this 22nd day of September, in the year of Our Lord, nineteen hundred and eighty-four.
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