Providing Incentives For Government Technicians Assisting In The Implementation Of Supervised Credit Programs Of The Government
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Providing Incentives For Government Technicians Assisting In The Implementation Of Supervised Credit Programs Of The Government
Presidential Decree No. 409
March 11, 1974
Case Overview and Summary
Summary of Presidential Decree No. 409Objective:
- To promote and stimulate increased agricultural production in order to attain food self-sufficiency. (Preamble)
Supervised Credit Programs:
- The government undertakes special supervised credit programs designed to improve the productive capacity of farmers by providing them with financial and technical assistance without the need for real-estate collateral. (Preamble)
Role of Banks and Financial Institutions:
- Banks and financial institutions play a vital role in the implementation of the government's special financing program for agricultural production with the technical assistance and support of various government agencies and instrumentalities. (Preamble)
Incentives for Government Technicians:
- Government technicians assigned to banks and financial institutions for providing technical assistance and support in carrying out the supervised credit programs of the government for agricultural production are authorized to receive:
- Incentive allowances
- Bonuses
- Other appropriate forms of remuneration
- These incentives can be provided by the banks and financial institutions and/or the government. (Section 1)
- The incentives are subject to rules and regulations to be issued jointly by the Department of Agriculture and Natural Resources and the Central Bank of the Philippines. (Section 1)
Retroactive Effect:
- The decree shall have retroactive effect to cover payments of incentive allowances and bonuses due to government technicians who participated in the Masagana 99 Rice Program and all other special financing programs of the government. (Section 2)
Immediate Effect:
- The decree shall take effect immediately. (Section 2)
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Executive Issuances
Presidential Decrees
agricultural production
supervised credit programs
incentives
government technicians
banks
financial institutions
bonuses
allowances
remuneration
Masagana 99 Rice Program
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Providing Incentives For Government Technicians Assisting In The Implementation Of Supervised Credit Programs Of The Government
Presidential Decree No. 409
•March 11, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 409 March 11, 1974
PROVIDING INCENTIVES FOR GOVERNMENT TECHNICIANS ASSISTING IN THE IMPLEMENTATION OF SUPERVISED CREDIT PROGRAMS OF THE GOVERNMENT
WHEREAS, it is the primary concern of the Government to promote and stimulate increased agricultural production in order to attain food self-sufficiency;
WHEREAS, in pursuance of this objective, the Government undertakes special supervised credit programs designed to improve the productive capacity of farmers by providing them the necessary financial and technical assistance without the need for real-estate collateral;
WHEREAS, banks and financial institutions play a vital role in the implementation of the special financing program of the Government for agricultural production with the technical assistance and support of the various government agencies and instrumentalities;
WHEREAS, in order to maximize the participation of government technicians in the effective and efficient implementation of the supervised credit programs of the government, it is necessary that they be provided with enough motivation and encouragement in the form of incentive bonuses, allowances and other appropriate forms of remunerations;
NOW, THEREFORE, I,...
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