Question & AnswerQ&A (EXECUTIVE ORDER NO. 148)
The primary purpose of the PCIC is to provide insurance protection to farmers against losses arising from natural disasters, plant diseases, and pest infestation.
Before its transfer to the Department of Finance, the PCIC was attached to the Department of Agriculture (DA) for policy and program coordination, and general supervision.
The transfer aims to align the PCIC’s plans and programs with national development policies and the government's overall fiscal plan, ensuring more cost-efficient performance in providing insurance protection to farmers.
The transfer was effectuated under Executive Order No. 148 dated September 14, 2021.
The Department of Finance (DOF), Department of Agriculture (DA), and the Governance Commission for GOCCs (GCG) recommended the transfer.
Under Section 5 of RA No. 10149, the GCG evaluates and determines whether a GOCC should be reorganized, merged, streamlined, abolished, or privatized and makes recommendations to the President accordingly.
The Secretary of the Department of Finance chairs the reorganized PCIC Board of Directors.
The board includes the Chairperson (Secretary, DOF), Vice-Chairperson (Secretary, DA), President of PCIC, President of Land Bank of the Philippines, President and General Manager of the Government Service Insurance System, a representative from the private insurance industry nominated by the Secretary of Finance, and a representative from the subsistence farmers’ sector.
The representative from the subsistence farmers’ sector, preferably representing agrarian reform beneficiaries/cooperatives/associations, shall be selected and nominated by different farmers' organizations and/or cooperatives.
If any provision is declared invalid or unconstitutional, the other provisions not affected shall remain valid and subsisting according to the separability clause.
All orders, rules, regulations, and other issuances inconsistent with Executive Order No. 148 are revoked or modified accordingly.
The Executive Order took effect immediately upon issuance on September 14, 2021.