Memorandum Order No. 493 (1975)

MALACAÑAN PALACE

MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ MEMORANDUM ORDER NO. 493, March 3, 1975 ]

Effective immediately, there is hereby created a “Price and Commodity Flow Monitoring Team” which is tasked to set up a system for an up-to-date and regular, monitoring of commodity flows and prices. The scheme is envisioned to accomplish the following basic objectives:

a) to have a continuous and accurate data base on the commodity trade flow;

b) to be able to monitor the location of commodity stocks as well as prices at different places in order to avert any future crises concerning prime commodities;

c) to enlist the participation of the private sector in establishing a workable mechanism for prompt monitoring of price and commodity flow; and

d) to be able to come up with forecast models on the supply and demand for such commodities throughout the country.

The team will be composed of the following:

Director J. Roberto L. Abling Development Management Staff | Chairman Director E. Castillejos | Vice Chairman Bureau of Domestic Trade | (Domestic Trade) Director Romeo Cruz | Vice Chairman Foreign Exchange Department Central Bank | (Foreign Trade) Mrs. Rosario Franco Price Control Council | Member Representative, Board of Investment | “ Mr. Socrates Brazal National Computer Center | “ Mr. Benjamin Nolasco Development Management Staff | Member Representative Bureau of Foreign Trade | ” Representative Bureau of Agricultural Economics | ”

All departments, bureaus and other government agencies are enjoined to extend their assistance and cooperation to the team in the prosecution of its functions.

By authority of the President:

(Sgd.) ALEJANDRO MELCHOR

Executive Secretary

March 3, 1975