Capitalization, Special Fund of the Commission, Development and Stabilization Fund.
Section 7
SEC. 7. Capitalization, Special Fund of the Commission, Development and Stabilization Fund. — There is hereby established a fund for the Commission for the purpose of financing the growth and development of the sugar industry and all its components, stabilization of the domestic market including the foreign market to be administered in trust by the Commission and deposited in the Philippine National Bank derived in the manner herein below cited from the following sources: Stabilization fund shall be collected as provided for in the various provisions of this Decree. Stabilization fees shall be collected from planters and millers in the amount of two pesos (P2.00) for every picul produced and milled for a period of five (5) years from the approval of this Decree and one peso (P1.00) for every picul produced and milled every year thereafter: Provided, That fifty centavos (0.50) per picul of the amount levied on planters, millers and traders under Section 4 (c) of this Decree will be used for the payment of salaries and wages of personnel, fringe benefits and allowances of officers and employees for the purpose of accomplishing the efficient performance of the duties of the Commission: Provided, further, That said amount shall constitute a lien on the sugar quedan and/or warehouse receipts and shall be paid immediately by the planters and mill companies, sugar centrals and refineries to the Commission.