WHEREAS, the recent international events which unleashed
economic dislocations on all sectors of the national economy including
that of the coconut industry indicate an imperative need for the
Government to pursue through a single agency definite development plans
in the coconut industry aimed at improving the economic status of the
coconut and other palm oil farmers and assuring domestic consumers with a
continuous supply of coconut-based products at reasonable prices; and
WHEREAS, to insure that the aforesaid objectives and
purposes are pursued there is need to re-organize the Governing Board of
the Philippine Coconut Authority by including in its composition the
required management and financial expertise and directing the
implementation of definite plans calculated to promote the growth and
development to the coconut industry:
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby decree the further amendment of Presidential Decree No. 232,
as follows: