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PRESIDENTIAL DECREE NO. 1944
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PRESIDENTIAL DECREE NO. 1944 -
FURTHER AMENDING PRESIDENTIAL DECREE NOS. 388, 1192, 1905 AND 1918
PROVIDING FOR FREE DOMESTIC SUGAR TRADING
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WHEREAS,
there exists an urgent need to finance the operations of the domestic
sugar industry through private sector sources in view of present
financial constraints of government;chanroblesvirtualawlibrary
WHEREAS, there is a continuing need to ensure the generation of optimum
foreign earnings from sugar exports;chanroblesvirtualawlibrary
WHEREAS, the optimization of sugar export earnings is best achieved
through a single export trading agency for the country, as experienced
by most sugar exporting countries in the world.
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 and order the following:cralaw:red
Section 1. Section 4 (d) of Presidential Decree No.
388, as amended by Section 2 (d) of Presidential Decree No. 1192, as
amended by Presidential Decree No. 1905, as amended by Presidential
Decree No. 1918, is hereby further amended to read as follows: chanroblesvirtualawlibrary
"Sec. 4. Powers and Functions. The Commission shall
have the following powers and functions:cralaw:red
xxx
xxx
xxx
(d) To act as a buying and selling agency of sugar
thru its affiliate/subsidiary for the purchase and/or local marketing
of sugar on a voluntary and contractual basis in order to promote the
effective merchandising of sugar and to act as the country's sole
export trading agency for sugar to ensure generation of optimum foreign
exchange earnings from sugar exports;"
Section 2. All existing contracts entered into by
and between the National Sugar Trading Corporation (NASUTRA) and the
sugar producers under Presidential Decree No. 1905 are hereby
suspended, modified or amended accordingly. chanroblesvirtualawlibrary
Section 3. The Philippine Sugar Commission
(PHILSUCOM) is hereby authorized to issue guidelines for the
implementation of this Decree not later than July 7, 1984.
Section 4. All provisions of Presidential Decrees,
Executive Orders, and other issuances inconsistent with the provisions
of this Decree, are hereby repealed or modified accordingly.
Section 5. This Decree shall take effect
immediately. chanroblesvirtualawlibrary
Done in the City of Manila,
this 29th day of June, in the year of Our Lord, nineteen hundred and
eighty-four.
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