EXECUTIVE ORDER NO. 622 September 20, 1980
REORGANIZATION OF NACIDA AND ITS IMMEDIATE TRANSFER TO THE MINISTRY OF INDUSTRY
WHEREAS, as provided for in Executive Order No. 574 the NACIDA was transferred and attached to the Ministry of Industry for policy and program coordination;
WHEREAS, as provided for in Executive Order No. 583, the Minister of Industry was appointed Chairman of the NACIDA Board of Directors;
WHEREAS, there is a need for accelerated development of cottage industries and to provide more effective supervision over NACIDA operations and realign NACIDA with the SMI program of the government;
WHEREAS, under P.D. 1416, the President is empowered to undertake such organizational changes as may be necessary in the light of changing circumstances and new developments;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and the authority vested in me by Presidential Decree No. 1416, do hereby order and ordain:
Sec. 1. The Minister of Industry as Chairman of the NACIDA Board is hereby designated as Chief Executive Officer of NACIDA with full powers to restructure and reorganize NACIDA. The Chairman as Chief Executive Officer shall review, develop, supervise and direct a revitalized national cottage industries development program. The Administrator shall report to and be responsible directly to the Chairman.
Sec. 2. Executive Order 574 Section 17, Paragraph 2, is hereby amended, to effect immediately the transfer of NACIDA to the Ministry of Industry, together with all its existing functions, programs, applicable appropriations, records, equipment property and personnel.
Sec. 3. The Central Bank, the DBP, the PNB and other government financial institutions are hereby directed to allocate collectively the sum of P800,000,000, for a loan fund for financial assistance to cottage, small and medium industries. The Minister of Industry is hereby directed to immediately develop the mechanics for implementation of this loan fund.
Sec. 4. All laws, decrees, charters, executive orders, administrative orders, proclamations, rules and regulations or parts thereof that are in conflict are hereby repealed or modified accordingly.
Sec. 5. This Executive Order shall take effect immediately.
Done in the City of Manila, this 20th day of September, in the year of Our Lord, nineteen hundred and eighty.
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