QuestionsQuestions (PRESIDENTIAL DECREE NO. 409)
P.D. No. 409 (March 11, 1974) authorizes incentive allowances, bonuses, and other remuneration for government technicians assigned to banks and financial institutions to provide technical assistance in supervised government credit programs for agricultural production, to encourage effective implementation and support increased agricultural output.
They must be assigned to banks and financial institutions for the purpose of providing technical assistance and support in carrying out the government’s supervised credit programs for agricultural production.
The incentives may be provided by the banks and financial institutions and/or by the Government, subject to implementing rules.
The payment is “subject to the rules and regulations to be issued jointly” by the Department of Agriculture and Natural Resources (now DA) and the Central Bank of the Philippines (now Bangko Sentral ng Pilipinas).
Yes. It takes effect immediately and has retroactive effect to cover payments of incentive allowances and bonuses due the government technicians who participated in the Masagana 99 Rice Program and all other special financing programs of the Government.
It states that the provisions apply “notwithstanding” any law, decree, rule, regulation, or order to the contrary.
To promote and stimulate increased agricultural production in order to attain food self-sufficiency.
Because the Government’s supervised credit programs are designed to improve farmers’ productive capacity by providing financial and technical assistance without requiring real estate collateral.
They play a vital role in implementing the special financing program of the Government for agricultural production, with technical assistance and support from various government agencies and instrumentalities.
It is dated March 11, 1974 and provides that it “shall take effect immediately” and has retroactive effect for specified incentive payments, meaning it can validate or authorize payment for past participation within the covered programs.
It is specifically mentioned as one of the programs whose participating technicians’ incentive payments are covered by the retroactive effect, guiding interpretation of “special financing programs.”
Incentive allowances, bonuses, and other appropriate forms of remuneration—i.e., additional pay designed to motivate and encourage technicians involved in the supervised credit programs.
It creates a specific incentive scheme for government technicians assigned to financial institutions who help implement supervised government credit programs for agricultural production.
It limits coverage to government technicians who are actually assigned to those institutions for the required technical assistance/support purpose; incidental or unrelated work would likely fall outside coverage.