Preamble
WHEREAS, the Philippine Coconut Authority (PCA) was created to implement and attain the declared national policy of promoting the rapid integrated development and growth of the coconut and other palm oil industry in all its aspects, Whereas, historically, the defunct Philippine Coconut Administration (PHILCOA) received no regular government financial support and had to depend on the coconut industry for its operational budget, and similarly, the PCA ever since its creation relied mainly on its share of the CCSF assessment/levy collections which accounts for per cent (90%) of its budgetary requirements; WHEREAS, the fluctuation in the world market prices of coconut products which accounts for the impermanence of the levy necessitates the provision of a continuing and self-sustaining funding system to support of PCA; WHEREAS, from the beginning, it has been the intention of the law pursuant to Section 13, Chapter VI of Republic Act No. 1145 and Section 3(k), Article II of P.D. 1468, that PCA derive support from the coconut industry; WHEREAS, the authorized amount of support from the industry has remained unchanged since 1954, and in view of the expanded functions and responsibilities of PCA, and in view of the expanded functions and responsibilities of PCA, public interest and welfare dictate that an immediate adjustment of the industry support be made in order to provide this agency with adequate financial means and resources to more effectively carry out its task; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution and laws, hereby decree and order the following: