Question & AnswerQ&A (PRESIDENTIAL DECREE NO. 977)
The primary objective is to promote the development of the fishing industry, improve efficiency in handling, preserving, marketing, and distribution of fish and fishery products through establishment and operation of fish markets and fishing ports.
The Philippine Fish Marketing Authority (PFMA) is created by Presidential Decree No. 977.
The PFMA operates under the direct control and supervision of the Secretary of Natural Resources.
To manage and operate fish markets and fishing ports, provide market intelligence, regulate enterprises in fish markets, collect fees, contract indebtedness, promulgate rules, undertake marketing of fish products, acquire property, and exercise the right of eminent domain among others.
The principal office is located in the Metro Manila area.
The Board includes the Secretary of Natural Resources (Chairman), Secretary of Public Works, Transportation & Communications (Vice-Chairman), Secretary of Trade or representative, President of Food Terminal Inc. or representative, Director of Fisheries & Aquatic Resources, and two private sector representatives appointed by the President.
To adopt and amend by-laws, promulgate policies and rules, approve budgets, fix fees and charges, organize staffing, appoint General Manager and Assistant, approve contracts, and submit reports to the President among others.
The General Manager manages day-to-day operations and is appointed by the Board of Directors, removable only for cause.
Yes, the PFMA is declared a non-profit entity.
Yes, the PFMA is exempt from income tax except if the President, upon recommendation of the Secretary of Finance, decides to lift this exemption after five years from the decree's approval.
The Navotas Fish Market and its facilities are transferred to and placed under the exclusive jurisdiction and control of the PFMA.
The PFMA can construct or authorize construction of infrastructure facilities like factory buildings, warehouses, cold storage, ice plants, and other structures useful for the fishing industry.
PFMA can fix, assess, and collect fees, tolls, charges, rentals for use or lease of its properties and services and can adjust these charges when warranted.
Yes, the PFMA can enter into contracts, loan agreements with banks, and other agreements necessary for efficient administration and operation.
The PFMA has the power to acquire, hold, dispose of real and personal property and to exercise the right of eminent domain.