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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 322
TO
: The Secretary
Department of Agriculture
The Secretary
Department of Natural Resources
The Commissioner
Budget Commission
The President
Philippine National Bank
The Governor
Central Bank of the Philippines
The Governor
Development Bank of the Philippines
The President
Food Terminal, Inc.
All those involved in the poultry and hog industries
WHEREAS, it is the policy of government to support small and medium size entrepreneurial activities;
WHEREAS, field surveys conducted by the Department of Agriculture verify report that an alarming number of small poultry and hog raisers have gone out of business;
WHEREAS, the same field surveys indicate that many more raisers are in danger of being forced out of business;
WHEREAS, small and medium size raisers suffer from low farm gate prices;
WHEREAS, the entry of low-priced imported beef briskets and canned mackerel has further driven down prices, and has reduced the demand for poultry and hog products;
WHEREAS, there is a need to ensure fairness in the negotiations for contract growing;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby order the following:
1.
The Food Terminal, Inc. (FTI), in coordination
with the Department of Agriculture (DA), shall provide annual purchase
contracts for small and medium poultry and hog raisers at support
prices. On the basis of a ratio of one peso equity financing to one
peso debt financing, I hereby direct DBI, to infuse additional equity
funds into FTI in the amount of P1.5 million and direct PNB to provide
P1.5 million in debt financing. I also hereby direct the Budget
Commission to incorporate such subsidy funds as may be required for
this purpose in consultation with FTI.
2. The
Philippine National Bank (PNB) is hereby
instructed to release the P15 million balance of P18 million I
appropriated earlier for the purchase of the over-sized "overstaying"
hogs.
3. The
Central Bank (CB) is directed to immediately
suspend the issuance of any Letters of Credit for the importations of
canned mackerel and beef briskets until such time as the country's
inventories approach normal levels. The CB shall determine such levels
of inventories in consultation with the DA and the Department of
Natural Resources. (DNR).
4. The FTI,
assisted by the PNB, is directed to
implement a scheme which will regulate the release of imported beef
briskets in the market in order not to jeopardize our poultry and
livestock industries. In this regard, I hereby direct PNB to
immediately provide P10 million for this purpose.
5. The
Secretary of Agriculture shall review the
terms and conditions of "contract growing" and "contract to buy" with
the view to regulating the relationship between the contracting parties
but most especially with the view of protecting small and medium size
independent raisers. For this purpose the Secretary shall create a
permanent body to mediate on any and all negotiations and contracts.
This body shall also look into the establishments of a Poultry and Hog
Marketing Board.
This Letter of Instructions shall take effect immediately.
Done in the City of Manila, this 29th day of September, in the year of Our Lord, Nineteen Hundred and Seventy-five.
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