Preamble
WHEREAS, the recent international events which unleashed economic dislocations on all sectors of the national economy including that of the coconut industry indicate an imperative need for the Government to pursue through a single agency definite development plans in the coconut industry aimed at improving the economic status of the coconut and other palm oil farmers and assuring domestic consumers with a continuous supply of coconut-based products at reasonable prices; and WHEREAS, to insure that the aforesaid objectives and purposes are pursued there is need to re-organize the Governing Board of the Philippine Coconut Authority by including in its composition the required management and financial expertise and directing the implementation of definite plans calculated to promote the growth and development to the coconut industry: NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby decree the further amendment of Presidential Decree No. 232, as follows: