Credit Program for Small and Medium-Scale Fisheries
Letter of Instructions No. 868, issued on May 25, 1979, directs the implementation of the BIYAYANG DAGAT '79 credit program to support small and medium-scale fisheries in the Philippines. This program encompasses various activities, including marine capture and aquaculture of species such as mussels, oysters, and tilapia. The Minister of Budget is instructed to allocate P10 million to the Fishery Guarantee Loan Fund for production loans, while the Central Bank Governor is mandated to facilitate 100% rediscounting of loans at a low interest rate. The program aims to enhance fish culture and is set to take effect immediately, revoking any inconsistent prior directives.
Quick Answers
- What is Credit Program for Small and Medium-Scale Fisheries about?
- Letter of Instructions No. 868, issued on May 25, 1979, directs the implementation of the BIYAYANG DAGAT '79 credit program to support small and medium-scale fisheries in the Philippines. This program encompasses various activities, including marine capture and aquaculture of species such as mussels, oysters, and tilapia. The Minister of Budget is instructed to allocate P10 million to the Fishery Guarantee Loan Fund for production loans, while the Central Bank Governor is mandated to facilitate 100% rediscounting of loans at a low interest rate. The program aims to enhance fish culture and is set to take effect immediately, revoking any inconsistent prior directives.
- What type of law is Letter of Instructions No. 868?
- Credit Program for Small and Medium-Scale Fisheries (Letter of Instructions No. 868) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Credit Program for Small and Medium-Scale Fisheries enacted?
- Credit Program for Small and Medium-Scale Fisheries (Letter of Instructions No. 868) was enacted on May 25, 1979.
- What is the citation for Credit Program for Small and Medium-Scale Fisheries?
- Credit Program for Small and Medium-Scale Fisheries, Letter of Instructions No. 868, May 25, 1979 (Philippines)
Law Information
- Reference Number
- Letter of Instructions No. 868
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 25, 1979
LETTER OF INSTRUCTIONS NO. 868
| TO | : | The Minister of Natural Resources and Chairman, |
| Fishery Industry Development Council | ||
| The Director of Fisheries and Aquatic Resources | ||
| The Minister of the Budget | ||
| The Governor of the Central Bank of the Philippines and Chairman, Presidential Committee on Agricultural Credit | ||
| The President of the Development Bank of the Philippines | ||
| The Chairman of the Philippine Fish Marketing Authority | ||
| The President, University of the Philippines System | ||
| The Minister of Education and Culture |
Further to my instructions contained in LOI 791 directing the Minister of Natural Resources to operationalize the Blue Revolution Program of the Ministry of Natural Resources, I hereby issue the following additional directives: casia
1. The credit program for small and medium-scale fisheries shall henceforth be known as BIYAYANG DAGAT '79;
2. The program shall include small-scale marine capture, small-scale culture of mussels, oyster, seaweeds, freshwater culture of tilapia, carp, hito, etc. in freshwater ponds and rice paddies;
3. The program shall include intensification of fish culture in brackishwater fishponds. Thus: The Minister of the Budget is hereby directed to release to the Fishery Industry Development Council the amount of Ten Million Pesos (P10,000,000) to be made part of the Fishery Guarantee Loan Fund to provide seed money for production loans for fishponds; casia
4. The Governor of the Central Bank will make eligible for 100 per cent rediscounting at one per cent interest rate all loans granted under the BIYAYANG DAGAT "79 credit program;
5. The Minister of Natural Resources and the Governor of the Central Bank shall launch this program immediately.
Letters of Instructions, Executive Orders, Memorandum Circulars, Rules and Regulations or parts thereof inconsistent with this Letter of Instruction are hereby revoked or modified accordingly. cd
This Letter of Instruction shall take effect immediately.
DONE in the City of Manila, this 25th day of May, in the year of Our Lord, Nineteen Hundred and Seventy-Nine. cd
Cite This Law
Credit Program for Small and Medium-Scale Fisheries, Letter of Instructions No. 868, May 25, 1979 (Philippines)
Credit Program for Small and Medium-Scale Fisheries, Letter of Instructions No. 868 (Phil. 1979)
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