WHEREAS, an escalating crisis brought about by an abnormal situation in the world market for fats and oils has resulted in supply and price dislocations in the domestic market for coconut-based consumer goods, and has created hardships for consumers thereof;
WHEREAS, the representatives of the coconut industry, considering their social and moral responsibilities in this respect have proposed the implementation of an industry-financed stabilization scheme which will permit socialized pricing of coconut-based commodities; and
WHEREAS, it is the policy of the State to promote the welfare and economic well-being of the consuming public;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to Proclamation No. 1081, dated September 21, 1972 and General Order No. 1, dated September 22, 1972, as amended, do hereby decree that:
The proceeds from the levy shall be deposited with the Philippine National
Bank or any other government bank to the account of the Coconut Consumers Stabilization Fund, as a separate trust fund which shall not form part of the general fund of the Government.
1) The Undersecretary of Agriculture and Natural Resources as Chairman;
2)
The Chairman of the Price Control Council, or his duly authorized
representatives;
3) The Undersecretary of Trade, or his duly authorized
representative;
4) A representative of the Secretary of National
Defense;
5) The President of the Philippine Coconut Producers Federation, or
the Federation's duly authorized representative;
6) The Chairman of the
United Coconut Associations of the Philippines or the Association's duly
assigned representative;
7) The President of the Philippine Coconut Oil
Producers Association, or the Association's duly authorized representative;
and
8) The President of the Philippine Copra Exporters Association, or the
Association's duly authorized representative; and
9) A representative of the
coconut oil refineries.
1) To determine the base price of the raw materials, on which to set the
subsidy;
2) To review and revise when necessary the amount of the levy
imposed. It is understood, however, that when the price of copra equals the
authorized base price, the collection of the levy shall be suspended
automatically;
3) To establish a monitoring system to ascertain that a steady
and adequate supply of the subsidized products is distributed at socialized
prices; and to issue subpoena and subpoena duces tecum whenever required for
effective monitoring and investigation as to compliance with its
promulgations;
4) To order the payment of the subsidy;
5) To establish a
Secretariat, headed by an Executive Director, who shall attend to the day-to-day
business and affairs of the Committee, and provide for the Secretariat's
operating expenses;
6) To call on any government agency or entity to assist
it in carrying out this Decree and the promulgations made thereunder; and
7)
To perform such other duties and functions in furtherance of this
Decree.
Done in the City of Manila, this 20th day of August, in the year of Our Lord,
nineteen hundred and seventy-three.
(Sgd.) FERDINAND E. MARCOS
President
Republic of the Philippines
By the President: (Sgd.) ROBERTO V. REYES Assistant Executive Secretary