Title
Abaca Industry Development Fund Act
Law
Republic Act No. 3045
Decision Date
Jun 17, 1961
A law enacted in the Philippines aims to rehabilitate and expand the abaca industry, ensuring its stability and competitiveness in the global market through various phases and a budget of twenty million pesos over five years.
A

Q&A (Republic Act No. 3045)

The official name of Republic Act No. 3045 is the Abaca Development Program Act.

It is the national policy to rehabilitate and expand the abaca industry of the country to maintain its world supremacy, meet global demand, provide measures for permanent stability in production, and reduce the cost of production.

The Abaca Development Program is under the administrative supervision and control of the Secretary of Agriculture and Natural Resources.

The Board is composed of the Director of the Bureau of Agricultural Extension, the Director of the Bureau of Plant Industry, the Manager of the Fiber Inspection Service, three representatives of the three abaca-producing regions, and one representative of the Philippine Abaca Federation, Inc.

The program covers abaca seed production and distribution, improvement of fiber extraction methods, development and promotion of cottage industries using abaca, abaca research, abaca foreign trade promotion, and general administration.

The Act appropriates twenty million pesos to be disbursed at four million pesos every fiscal year from 1961-1962 up to 1965-66, covering five years.

The yearly P4,000,000 is allocated as follows: P900,000 for planting materials; P800,000 for fiber extraction improvements; P800,000 for developing and promoting cottage industries; P800,000 for research; P200,000 for foreign trade promotion; and P500,000 for general administration.

The Chairman of the Board prepares the budget and production plan which is submitted through the Secretary of Agriculture and Natural Resources to the President for approval.

All balances at the close of each fiscal year shall be carried over for expenditure in the succeeding fiscal years.

The Program shall automatically be integrated into the yearly General Appropriation Act under the Bureau of Plant Industry until its completion and thereafter to ensure continuity.

The Chairman renders a yearly report through the Secretary of Agriculture and Natural Resources to the President of the Philippines, the Senate President, and the Speaker of the House of Representatives.


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