Preamble
WHEREAS, recent adverse development in the world market situation have threatened the viability of the coconut industry and affected the livelihood of more than six million farmers and workers; WHEREAS, in immediate response to these developments, the President created under Executive Order No. 747 dated 19 November 1981, the Special Committee on the Philippine Coconut Industry, composed of the members of Cabinet and of the Batasang Pambansa, both from the majority and minority parties, to review and reassess existing policies, practices and institutions relatives to the Philippine coconut industry, which in turn created a Sub Committee to study these matters; WHEREAS, this Sub Committee of the Special Committee has now submitted its recommendations to effect a more realistic system of determining the amount of assessment on coconuts and its products in order to provided urgent relief to coconut farmers while at the same time ensuring continued financial support to on-going socio-economic and developmental programs for coconut farmers; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order the following: