TO : | The Minister, Ministry of the Budget The Governor, Central Bank of the Philippines The Administrator, National Food Authority The Executive Director, Quedan Guarantee Fund Board All Concerned |
All agencies herein addressed to shall adopt such implementing rules, regulations and other measures as may be necessary and appropriate to implement and achieve the objectives of this Letter of Instructions.
- That the Quedan Guarantee Fund Board shall immediately implement the inclusion under the purview of the Quedan Financing Program other commodities, such as but not limited to:
Garlic Briskets Onions Lamb Legs Potatoes Pork Fats Mongo Veal Hinds Peanuts Processed Fruits Orange Dried squids Pomelo Marine Products Cheese Pimiento Shark Meat Cheese Curd Smoked Fish Assorted Meat Ham Beef Trimmings Processed Meat Boneless Beef Fruit Concentrate Broilers Orange Concentrate Cocoa Butter - That in lieu of a Quedan or Warehouse Receipt, a Chattel mortgage on any of the food commodities covered under this program, may be the basis of credit availment, guarantee coverage and other incentives provided for under the program;
- That since the expansion of the commodity coverage entails additional funds, the Ministry of the Budget shall release the amount of FIFTY FIVE MILLION PESOS (P55,000,000.00) to the Quedan Guarantee Fund Board so as to increase its guarantee fund from NINETY FIVE MILLION PESOS (P95,000,000.00) to ONE HUNDRED FIFTY MILLION PESOS (P150,000,000.00).