Scope and Coverage of Pagkain ng Bayan
- Pagkain ng Bayan continues as a project under the Office of the President and Provincial Governors.
- It expands to cover the production and primary processing of all types of food products, not limited to rice and corn.
Transfer of Assets, Liabilities, and Personnel
- All assets, liabilities, organizational structures, and personnel of Palayan ng Bayan are transferred to Pagkain ng Bayan.
Inclusion of City Mayors
- City Mayors are authorized to participate in Pagkain ng Bayan programs similarly to Provincial Governors as per Presidential Decree No. 262.
Financing and Loan Provisions
- The National Advisory Council determines maximum loans per hectare for raw land development and other activities.
- Crop and operational loans have a maximum duration of one year.
- Loans for investments and capital assets may exceed one year, subject to the National Advisory Council's approval.
- Interest rates and loan charges are set by the National Advisory Council, abiding by Central Bank regulations.
Funding Mechanism
- The Minister of Finance is empowered to issue and sell interest-bearing bonds, debentures, or certificates of indebtedness up to P200 million to fund Pagkain ng Bayan.
Loan Repayment and Default Remedies
- In case of loan defaults, the Minister of Finance can withhold portions of provincial/city revenues to cover loan obligations upon request.
- Personal guarantees by Provincial Governors or City Mayors remain enforceable.
Use of Idle Private Lands
- The National Advisory Council may authorize the use and cultivation of idle private lands through voluntary lease contracts between private owners and Provincial Governors/City Mayors.
- Restrictions on such leases are to be outlined by the Council.
Prohibition on Leasing to Private Sector
- Leasing of Pagkain ng Bayan lands or portions by provincial/city governments to private entities is prohibited.
- Any lease or similar agreement entered into in violation is null and void from inception.
Repeal and Modification of Conflicting Provisions
- All laws, decrees, executive orders, and other regulations inconsistent with this Executive Order are repealed or modified accordingly.
Effectivity
- The Executive Order takes immediate effect upon issuance.