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PRESIDENTIAL DECREE NO. 792
PRESIDENTIAL DECREE NO. 792
- CREATING THE PRESIDENTIAL COMMITTEE ON AGRICULTURAL CREDIT
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WHEREAS,
the agricultural sector generates employment for almost half of the
entire Filipino population and accounts for one-third of the gross
domestic product;chanroblesvirtualawlibrary
WHEREAS, further agricultural development is essential not only for the
efficient utilization of available and manpower resources but for the
success of our effort to produce enough food for our people;chanroblesvirtualawlibrary
WHEREAS, credit is a crucial key to agricultural development, as proven
by the Masagana 99 program;chanroblesvirtualawlibrary
WHEREAS, our credit resources are limited and must be channeled to
areas where they are most needed and where they will generate the
greatest social and economic benefits to our farmers;chanroblesvirtualawlibrary
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 decree that: chanroblesvirtualawlibrary
Section 1. A Presidential Committee on Agricultural
Credit (PCAC) shall be immediately created with the Governor of the
Central Bank as Chairman, the Secretary of Agriculture as Vice-Chairman
and the following members:cralaw:red
The Director-General
National Economic and Development Authority
The Secretary
Department of Local Government
and Community Development
The Secretary
Department of Natural Resources
The Secretary
Department of Agrarian Reform
The President
Philippine National Bank
The Chairman of the Board of Governors
Development Bank of the Philippines
The President
Land Bank of the Philippines chanroblesvirtualawlibrary
Section 2. The PACC shall:cralaw:red
a. Advise all government financial institutions on
matters related to agricultural credit programs;chanroblesvirtualawlibrary
b. Review ongoing and proposed agricultural credit
programs, and recommend modifications where necessary;chanroblesvirtualawlibrary
c. Ensure coordination in the implementation of
agricultural credit programs, not only among financial institutions,
but also between these institutions and government agencies involved in
the implementation of said programs;chanroblesvirtualawlibrary
d. Synchronize credit programs for production with
credit programs for such activities as (1) land development and
improvement, (2) farm mechanization, (3) production and supply of
agricultural inputs, (4) transportation and storage, (5) processing,
(6) marketing, and other related activities;chanroblesvirtualawlibrary
e. Establish priorities and set loan ceilings for
the purpose of allocating scarce credit resources;chanroblesvirtualawlibrary
f. Exercise the same authority over institutions not
mentioned above but involved in agricultural credit, and whose funds
are derived, even if only partially, from the above-named institutions.
Section 3. A Technical Board for Agricultural
Credit (TBAC) shall be created simultaneously with the PCAC to assist
the PCAC in the implementation of the aforementioned functions. The
TBAC shall have the Deputy Governor of the Central Bank for Bank
Supervision and Examination as Chairman, and following, or their
respective representatives, as members; chanroblesvirtualawlibrary
The Undersecretary for Cooperatives
Department of Local Government and Community
Development
The Assistant Secretary
Department of Agriculture
The Assistant Secretary
Department of Natural Resources
The Assistant Director-General
Programs and Projects Office
National Economic and Development Authority
The Bank Economist and Vice-President
Philippine National Bank
The Executive Director
National Food and Agriculture Council
The Assistant Secretary and Director of the
Bureau of Farm Management
Department of Agrarian Reform
The Administrator
Agricultural Credit Administration
The Manager of the Agricultural Department
Development Bank of the Philippines
The Senior Vice-President
Land Bank of the Philippines
The Director of the Department of Rural Banks, Savings
and Loan Associations
Central Bank of the Philippines
Section 4. The TBAC will organize and commission its
staff and/or other agencies to do research work, conduct surveys and
make studies essential to the proper design and improvement of the
agricultural credit programs. These are envisioned to accelerate the
development of the agricultural sector. Members of said staff, to be
hired by TBAC shall not be considered employees of the Central Bank
although they shall be administratively under the direction of the
Deputy Governor of the Central Bank for Supervision and Examination.
The same shall be exempted from Civil Service and WAPCO regulations.
Section 5. The Budget Commission is hereby instructed
to add annually the amount of P2.5 million to the budget of the
Department of Agriculture for the purpose of financing all the
administrative and operating expenses of the PCAC, including research
and surveys. chanroblesvirtualawlibrary
Section 6. The PCAC is hereby authorized to receive
and utilize donations and grants from local and/or foreign sources to
augment its annual budget.
Section 7. All laws and executive orders, or parts
thereof, contrary to, or inconsistent with the provisions of this
Decree are hereby repealed, amended or modified accordingly.
This Decree shall take effect immediately. chanroblesvirtualawlibrary
Done in the City of Manila,
this 4th day of September, in the year of Our Lord, nineteen hundred
and seventy-five.
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