[ LETTER OF INSTRUCTIONS NO. 1243, May 21, 1982 ]
MISSIVE PALAY PROCUREMENT DRIVE
TO: | Executive Committee Ministry of Agriculture National Food Authority Central Bank of the Philippines ALL CONCERNED |
I, FERDINAND E. MARCOS, by the powers vested in me by the Constitution do hereby order the following:
- The National Food Authority shall procure about 15% of total palay production at the mandated support price in order to create an attractive market for farmers especially during the main harvest.
- The Executive Committee shall draw up and implement in time for the 1982 main harvest together with the National Food Authority and the Ministry of Agriculture, a comprehensive procurement program complete with the necessary logistics, credit and infrastructure to achieve the foregoing objective.
- The Central Bank Governor shall determine and arrange for such credit lines as may be necessary for this massive procurement drive from the Philippine National Bank, Land,Bank, Development Bank of the Philippines and private commercial banks.
- The Ministry of Agriculture and the National Food Authority shall draw up a concrete program to accelerate the procurement tie-up with organized farmers' group with the objective of supplying as much of the total amount procured possible under this marketing arrangement.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
President of the Philippines