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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 256
TO
: The Secretary, Department of Finance
The Chairman-Coordinator, NFAC
The Auditor-General, Commission on Audit
The Commissioner, Budget Commission
The Governor, Central Bank of the Philippines
The President, Philippine National Bank
The Administrator, ACA
In order to improve the collection rate of Masagana 99 and Masaganang Maisan loans, and in order to insure the continued support of financing institutions for the above programs and other supervised credit programs of the government, I hereby issue the following orders:
1.
The Central Bank, through the Department of Rural
Banks and Savings and Loan Association, the Philippine National Bank,
and the Agricultural Credit Administration shall designate and appoint
Farm Management Technologists (FMTs) of the Masagana 99, Masaganang
Maisan and "Gulayan sa Kalusugan" programs and other
government-supervised credit programs as collection agents of loans
extended to farmer-participants.
2. The
Secretary of Finance, through the Bureau of
the Treasury, shall bond the aforementioned Farm Management
Technologists.
3. The
National Food and Agricultural Council (NFAC)
shall pay for the premium required for the bonding of the
aforementioned Farm Management Technologists.
4. The
Auditor-General, Commission on Audit, shall
authorize NFAC to pay the premiums of the bonds of casual employees who
are presently engaged as Farm Management Technologists of supervised
credit programs of the government, as the exception to the provisions
of the National Accounting and Auditing Manual.
All provisions of existing orders, rules and regulations inconsistent or contrary to this Order are hereby repealed or amended accordingly.
This Letter of Instructions shall take effect immediately.
DONE in the City of Manila, this 7th day of March, in the Year of Our Lord, nineteen hundred and seventy-five.
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Since 19.07.98.
