Preamble
WHEREAS, cooperatives constitute institutional vehicles to enhance productivity and increase the income of the people through built-in mechanisms of economics of scale, cost-sharing and risk-sharing; WHEREAS, it is vital and necessary for the government to encourage people to organize cooperatives that will provide for their need at the lowest possible cost and at the same time increase their incomes and productivity; WHEREAS, to strengthen the cooperatives, there is need to restore to them certain privileges which were suspended by PD 1955. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines by virtue of the powers vested in me by the Constitution, do hereby decree: