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PRESIDENTIAL DECREE NO. 1905
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PRESIDENTIAL DECREE NO. 1905 -
FURTHER AMENDING PRESIDENTIAL DECREE NOS. 388 AND 1192 PROVIDING FOR
FREE SUGAR TRADING
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chanroblesvirtualawlibrary
WHEREAS,
the operations of the Philippine Sugar Commission (PHILSUCOM) thru its
trading arm National Sugar Trading Corporation (NASUTRA) as a single
buying and selling agency have already brought about a decree of
stability in the sugar industry.
WHEREAS, while a great majority of the sugar producers have expressed
their preference to remain with NASUTRA, some have voiced their desire
to engage in free sugar trading. chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of
the Philippines by virtue of the powers vested in me by the
Constitution do hereby decree and order the following:cralaw:red
Section 1. Sec. 4(d) and (e) of Presidential Decree
No. 388 as amended by Sec. 2 of the Presidential Decree No. 1192 is
further amended to read as follows:cralaw:red
"Sec. 4. Powers and Functions. — The Commission
shall have the following powers and functions. chanroblesvirtualawlibrary
xxx
xxx
xxx
(d) To act as a buying and selling agency of sugar
thru its affiliate/subsidiary for the purchase and/or marketing of
sugar on a voluntary and contractual basis in order to promote the
effective merchandising of sugar;chanroblesvirtualawlibrary
(e) To monitor the pricing of sugar by producers and
sugar traders, and to furnish such information to the proper
governmental agencies charged with regulation of prices.
Section 2. In the implementation of the new sugar
trading system, PHILSUCOM shall take such measures as may be necessary
to assure continuity of production and distribution of sugar with
special regard to availability of supply to meet the domestic
requirements and international commitments, including the importation
or swap-arrangements of sugar and shall promulgate the rules and
regulations governing matters arising under the International
Agreements including entitlements of the U.S. market. chanroblesvirtualawlibrary
Section 3. Registration of Sugar Traders. —
PHILSUCOM shall provide for the registration of sugar traders, and
shall establish guidelines to promote free enterprise consistent with
orderly distribution of sugar as a prime commodity and subject to
safeguards against price and supply manipulations and other unfair
trade practices.
Section 4. Effectivity. — This Decree shall take
effect immediately, but PHILSUCOM is hereby authorized to fix a cut-off
date, which date shall not be later than March 15, 1984, to provide for
the adjustments that may be necessary in the implementation of the new
system. chanroblesvirtualawlibrary
Done in the City of Manila,
this 21st day of February, 1984.
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