Declaration of policy and objectives.
Section 2
SEC. 2. Declaration of policy and objectives.—It is hereby declared to be the policy of Congress to assist the people to develop their enterprises on a co-operative basis to strengthen their economic independence within the framework of this Act by the promotion of organized methods of industrial production, marketing, distribution and credit, the improvement of processes and other activities and the removal of conditions which hamper the growth of a rising standard of living with a view to promote the general well-being of the people and to expand the national economy. In furtherance of this policy, the Government shall encourage and assist in the establishment of a system of co-operative banks all over the country which shall provide banking facilities and reasonable credit for the non-agricultural co-operatives and encourage the distribution of consumer requirements through co-operatives by the establishment of a system of co-operative wholesale societies all over the country which shall provide steady and wholesale source of consumer requirements and act as a link between producers and consumers co-operatives by adopting a policy of gradual transfer of the business of procurement of consumer requirements from the National Marketing Corporation (NAMARCO) to the Philippine Co-operative Wholesale Society. To achieve this policy, the Central Bank of the Philippines, the Department of Commerce and Industry and all other departments, agencies or instrumentalities of the Government shall, in cooperation with the Administrator, provide technical guidance, financial assistance and other facilities to develop a sound and stable co-operative movement in the Philippines.