Authorizing the Food Terminal Incorporated to Intervene in the Stabilization of the Supply and Price of Pork

April 12, 2010

EXECUTIVE ORDER NO. 875

AUTHORIZING THE FOOD TERMINAL INCORPORATED TO INTERVENE IN THE STABILIZATION OF THE SUPPLY AND PRICE OF PORK

WHEREAS, the government is committed to pursue the policy of food security, especially for the benefit of the less fortunate, disadvantaged and marginalized sectors of the country;

WHEREAS, the current tight economic situation aggravated by the carry-over effects of typhoons that hit the country and hog diseases in CY 2009 as well as the potential adverse effects of El Niño, have significantly lessened the underprivileged sector's access to basic food, particularly pork;

WHEREAS, there is a need to address the basic needs of the less fortunate sectors, especially those in the depressed areas, to assure their continuous access to basic food items;

WHEREAS, under section 3 of Executive Order No. 1028 series of 1985, the President may, for stabilization purposes, authorize the intervention by the appropriate government entities in the trading of other food items as warranted by conditions as may exist from time to time;

WHEREAS, the Food Terminal Incorporated, considering their capability and experience in marketing of pork, is the most appropriate government agency to intervene in the stabilization of the supply and price of pork;

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. Intervention by the Food Terminal Incorporated. — The Food Terminal Incorporated (FTI) is hereby authorized to include in its commodity coverage the basic food items particularly pork, which it may deem necessary to stabilize the country's pork supply and prices. IHEAcC

SECTION 2. Funding. — For this purpose, FTI, thru its board, is authorized to use its corporate funds, manpower and other facilities, government-guaranteed credit lines and supplemented government support, as it may deem necessary.

SECTION 3. Nature of Funds. — All disbursements as well as administrative and operational expenses incurred by the virtue hereof shall be treated as a Special Projects Account subject to the usual accounting and auditing rules and regulation.

SECTION 4. Tax Expenditure Subsidy Scheme. — All importations undertaken pursuant to the provisions of this Executive Order shall be eligible for application of the Tax Expenditure Subsidy Scheme.

SECTION 5. Minimum Access Volume. — Outstanding volumes not allocated under the Minimum Access Volume (MAV) pertaining to pork shall be distributed to private sector under guidelines and procedures promulgated under the existing rules governing the implementation of the country's minimum access commitments.

SECTION 6. Inter-Agency Support. — All agencies of the National Government; particularly but not limited to the Department of Trade and Industry (DTI), Department of Finance (DOF), Department of Budget and Management (DBM), Department of Justice (DOJ), and the Office of the Government Corporate Counsel (OGCC), are enjoined to extend full support to the Department of Agriculture for the implementation of the herein Executive Order.

SECTION 7. Volume of Importation. — The Secretary of Agriculture is hereby authorized to determine the reasonable volume of pork that will be imported within the purview of this Executive Order but not to exceed 5,000 MT (metric tons) of pork.

SECTION 8. Effectivity. — This Executive Order shall take effect immediately upon its publication in a newspaper of general circulation, and shall remain valid until June 30, 2010.

DONE, in the City of Manila, this 12th day of April, in the year of Our Lord, Two Thousand and Ten. IATHaS