Law Summary
Objectives and Functions
- Develop and implement an integrated national research program to aid in formulating development plans and policies.
- Act as a liaison between government and research institutions.
- Conduct government-requested research and coordinate studies locally and internationally.
- Collaborate with academic, government, and business sectors for joint studies.
- Maintain a repository for economic research information.
Powers of the Institute
- Use and alter a corporate seal.
- Receive and manage funds from government appropriations and private sources.
- Own and manage necessary properties.
- Enter into contracts and extend financial assistance for lawful purposes.
- Invest funds and perform acts essential to fulfill its mandate.
Governance - Board of Trustees
- Managed by a Board of Trustees headed by the Secretary of Economic Planning or representative.
- Board consists of five members with staggered terms and procedures for filling vacancies.
- Sets quorum and remuneration rules subject to laws.
Roles and Responsibilities of the Board
- Formulate and adopt policies for Institute management.
- Appoint the Institute’s President from among board members.
- Approve staffing patterns and promulgate internal rules.
- Oversee appointment, promotion, discipline, or removal of personnel.
- Manage finances and approve annual budgets.
- Periodically review Institute programs and projects.
President's Role and Authority
- Executive officer with salary determined by the Board.
- Prepares staffing pattern and supervises personnel and operations.
- Recommends policies to the Board.
- Reports annually on operations, programs, and finances including budget recommendations.
Engagement and Compensation of Researchers
- Authorized to hire researchers and professionals from other government offices as Research Fellows or Associates.
- Authorized to pay additional fees to these researchers beyond their usual compensation.
Research Advisory Committee
- Composed of renowned research personalities, possibly including foreign scholars.
- Advises the Board on research project selection and methods.
- Oversees evaluation and publication of major studies.
- Advises on research activities essential to national development.
Funding and Endowment Fund
- Establishes a self-sustaining Endowment Fund from donations, grants, loans, government subsidies, and income.
- Initial government appropriation of PHP 7,000,000 for organizational and operational expenses.
- Future operations funded through income from the Endowment Fund.
Government Contributions
- NEDA’s annual budget shall include funding for PIDS research activities.
- Other government agencies may also budget contributions for specific research.
- These contributions are managed separately from the Endowment Fund.
- PIDS must submit annual work programs and budgets to NEDA by November 30 each year.
Tax Exemptions
- Donations and financial aids to PIDS are tax-exempt and deductible for donors.
- PIDS, its assets, income, operations, and transactions are exempt from taxes and fees imposed by the Philippine government or local authorities.
Effectivity
- The decree takes immediate effect upon enactment.