Powers and Functions.
Section 4
SEC. 4. Powers and Functions. — The Authority shall have the following powers and functions: a) to require firms to obtain its approval before entering into any commitments to expand, modernize and/or modify facilities for iron and steel making and/or processing when the expenditures involved may exceed P1 million and in coordination with appropriate government agencies to require firms within the industry to register commitments which would involve foreign currency expenditures of more than $50,000; b) to make recommendations on import and export limitations, tariffs, taxes, subsidies or anti-dumping measures affecting the industry; c) under conditions of acute market shortage or surplus of steel products, plan the establishment and enforcement of sales quotas, distribution areas and such other marketing regulations as it may deem necessary 1) to reestablish a balance between demand and supply on the domestic or export markets; 2) to allocate demand in an equitable, orderly and efficient manner among the firms servicing the market; and 3) to maintain stability until such time as the market imbalance is corrected; d) to assist in the setting up of marketing outlets for steel products and other related construction materials; e) whenever price adjustments for raw materials or products of iron and steel cause undue hardships or disagreements among sectors of the industry, their consumers or Suppliers, to call together representatives of the affected parties and government agencies concerned in order to arrive at a satisfactory consensus; if it deems so necessary, to establish fair and reasonable selling prices at different levels of distribution and to call on the appropriate government agencies for assistance in enforcing the established prices; f) to require the firms in the industry to conform to established standards, including standards on weights and measures, product quality control, and pollution control; g) to require any firm in the industry to secure its approval before acquiring or negotiating a loan or a guarantee from a government financial institution, the Philippine Government or any of its agencies; h) to recommend to the appropriate authorities such policies and measures as may be necessary to stimulate the expansion of the market for the industry; i) to negotiate, and when necessary, to enter into contracts for and in behalf of the Government, for the bulk purchase of materials, supplies or services for any sectors in the industry, and to maintain inventories of such materials in order to insure a continuous and adequate supply thereof and thereby reduce operating costs of such sector; j) to initiate expropriation of land required for basic iron and steel facilities for subsequent resale and/or lease to the companies involved if it is shown that such use of the State's power is necessary to implement the construction of capacity which is needed for the attainment of the objectives of the Authority; k) to plan, organize, implement and control the backward integration of the steel industry; l) to organize and implement programs for manpower development to benefit the industry, in coordination with the appropriate government agencies, public or private educational institutions, and private firms; m) to negotiate with its counterparts in other ASEAN countries for the rationalization, complementation and integration of the iron and steel industry in the region; n) to organize and/or implement programs in coordination with appropriate government agencies for the surveying, exploration and development of iron ore, coal and other deposits that are utilized as raw materials for the industry; to negotiate with sources from other countries to secure for the industry adequate, high-grade, and long-term supplies of such materials at the lowest cost and most advantageous terms possible; o) to promote product development, new uses and new applications for iron and steel products; to arrange for financial and technical support for product research and commercial development of iron and steel products undertaken by firms in the industry and other entities; p) to inspect inventories of firms in the industry and, during periods of market shortage, to regulate or confiscate inventories in order to alleviate the shortage; q) whenever necessary to achieve its objectives and to carry out its functions, to require firms in the industry to submit data on costs, sales, production, deliveries and inventories; r) to conduct studies on the status and problems of the industry and to maintain comprehensive statistical records and for this purpose, to require any person or entity to submit to it such data, information, papers or document it may deem necessary; s) to prescribe and enforce compliance with such rules and regulations as may be necessary to implement the intent and provisions of the Decree, which rules and regulations shall take effect immediately following their publication in two newspapers of general circulation in the Philippines; t) to conduct investigation, hearing and inquiry and for this purpose, to issue subpoena and subpoena duces tecum to compel the attendance of witnesses and the production of the necessary papers and documents; u) to perform such other acts as may be necessary or conducive to the exercise of its functions and powers and the discharge of its duties under this Decree.