WHEREAS, as part of the national economic recovery efforts, it is necessary to accelerate the coconut productivity program by liberalizing the availment of incentives or assistance to those who would like to participate in and implement the coconut productivity program;
WHEREAS, it is also necessary to provide the necessary appropriation to enable Government to program 30,000 hectares a year for coconut planting/replanting;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution and laws, do hereby order and decree the following:
SECTION 1. Section 3 of P.D. 1972 is hereby amended to read as follows:
"In accordance with the general government policy of self-reliance and in order to encourage the private sector to devise and implement their own planting or replanting program, the Government through the Philippine Coconut Authority (PCA) hereby, adopts a supplementary program of financial assistance by appropriating funds from out of the revenue of the national government and/or local government and, as may be determined by the President from out of borrowings, so that 30,000 hectares could be programmed per year for planting or replanting. Government assistance can be given in the form of incentives, such as:
The Project or any participating person or entity may acquire lands or interest therein, notwithstanding any prohibition or restrictions imposed by Commonwealth Act No. 141, as amended, otherwise known as the Public Land Act; Provided, the proposed owners qualify under nationality requirements of the Constitution of the Philippines.''
SEC. 2. The President may grant new or additional incentives or modify existing ones in order to ensure the continued viability of the coconut productivity program.
SEC. 3. This Decree shall take effect immediately.
DONE in the City of Manila, this 7th day of November in the year of Our Lord, nineteen hundred and eighty-five.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
By the President: (Sgd.) JUAN C. TUVERA Presidential Executive Assistant