OFFICE OF THE PRESIDENT

OF THE PHILIPPINES

MEMORANDUM CIRCULAR NO. 333

CREATING A STUDY AND COORDINATING COMMITTEE TO UNDERTAKE A STUDY AND RECOMMEND SOLUTIONS TO THE PROBLEM OF RISING PRICES OF PRIME COMMODITIES AND COORDINATE THE PRICE STABILIZATION CAMPAIGN OF GOVERNMENT AGENCIES CONCERNED.

There is hereby created a Study and Coordinating Committee to study and recommend solutions to the problem of rising prices of prime commodities, and coordinate current efforts of agencies of the government to stabilize prices. The Committee shall be composed of the following members:

Undersecretary of Agriculture

Chairman

Undersecretary of Industry

Member

Undersecretary of Justice

Member

Deputy Governor of the Central Bank of the Philippines

Member

Governor, Board of Investments

Member

Deputy Director-General, Presidential Economic Staff

Member

Assistant Secretary of Finance for Administration

Member

The Committee shall organize its Secretariat to be composed of such appropriate personnel as it may assign thereto from the agencies concerned.

The Committee shall immediately concentrate on how best to stabilize prices under existing laws and administrative regulations through means immediately available to administrative agencies without need of further legislation. In this connection, the Committee shall coordinate the current government effort and campaign against hoarding, monopoly, injurious speculation, manipulation and profiteering with respect to the supply, distribution and marketing of essential commodities whether imported or locally manufactured or produced. It shall undertake in this regard the coordination and integration of all producers and consumer cooperatives in a single overall cooperative system.

The Committee shall also undertake a study on and recommend long-range solutions to the problem of price stabilization with special emphasis on the giving of standby powers to the Executive Department of the government to control and stabilize by administrative action the prices of essential commodities.

All departments, bureaus, offices, agencies and instrumentalities of the government, including government-owned or controlled corporations and local government instrumentalities are hereby directed to extend assistance, whenever such is sought, to the Committee.

This Memorandum Circular takes effect immediately.

By authority of the President:

(SGD.) ALEJANDRO MELCHOR

Acting Executive Secretary

Manila, March 13, 1970

Source: Presidential Management Staff