Creating The Presidential Committee On Agricultural Credit
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Creating The Presidential Committee On Agricultural Credit
Presidential Decree No. 792
September 4, 1975
Case Overview and Summary
Summary of Presidential Decree No. 792Creation of Presidential Committee on Agricultural Credit (PCAC) (Section 1)
- Chaired by Governor of Central Bank
- Vice-Chair: Secretary of Agriculture
- Members: Director-General of NEDA, Secretaries of DLGCD, DNR, DAR, Presidents of PNB, DBP, and LBP
Functions of PCAC (Section 2)
- Advise government financial institutions on agricultural credit programs. (Section 2a)
- Review ongoing and proposed agricultural credit programs, and recommend modifications. (Section 2b)
- Ensure coordination in implementing agricultural credit programs among financial institutions and government agencies. (Section 2c)
- Synchronize credit programs for production with credit programs for land development, farm mechanization, agricultural inputs supply, transportation, storage, processing, marketing, and related activities. (Section 2d)
- Establish priorities and set loan ceilings to allocate scarce credit resources. (Section 2e)
- Exercise authority over institutions involved in agricultural credit with funds derived from named institutions. (Section 2f)
Creation of Technical Board for Agricultural Credit (TBAC) (Section 3)
- Chaired by Deputy Governor of Central Bank for Bank Supervision and Examination
- Members: Representatives from DLGCD, DA, DNR, NEDA, PNB, NFAC, DAR, ACA, DBP, LBP, and Central Bank
Functions of TBAC (Section 4)
- Organize and commission staff or agencies to conduct research, surveys, and studies for agricultural credit program design and improvement.
- Staff hired by TBAC are exempted from Civil Service and WAPCO regulations.
Budget Allocation (Section 5)
- Budget Commission instructed to add P2.5 million annually to Department of Agriculture's budget for PCAC's administrative, operating, research, and survey expenses.
Authority to Receive Donations and Grants (Section 6)
- PCAC authorized to receive and utilize donations and grants from local and foreign sources to augment its annual budget.
Repealing Clause (Section 7)
- All laws and executive orders contrary to or inconsistent with this Decree are repealed, amended, or modified accordingly.
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Creating The Presidential Committee On Agricultural Credit
Presidential Decree No. 792
•September 4, 1975
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 792 September 4, 1975
CREATING THE PRESIDENTIAL COMMITTEE ON AGRICULTURAL CREDIT
WHEREAS, the agricultural sector generates employment for almost half of the entire Filipino population and accounts for one-third of the gross domestic product;
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;
WHEREAS, credit is a crucial key to agricultural development, as proven by the Masagana 99 program;
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;
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:
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...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
agricultural credit
credit programs
agricultural development
farmers
financial institutions
credit resources
loan ceilings
agricultural inputs
land development
farm mechanization
transportation
storage
processing
marketing
cooperatives
rural banks
savings and loan associations
research
surveys
studies
budget allocation
donations
grants
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 792 September 4, 1975
CREATING THE PRESIDENTIAL COMMITTEE ON AGRICULTURAL CREDIT
WHEREAS, the agricultural sector generates employment for almost half of the entire Filipino population and accounts for one-third of the gross domestic product;
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;
WHEREAS, credit is a crucial key to agricultural development, as proven by the Masagana 99 program;
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;
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:
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...
Login to see full content