Reorganization of PNB [Philippine National Bank]. The board as well as Gov. [Gregorio] Licaros of CB [Central Bank] were in conference with me this morning. The board has approved the terminal leave of Mr. [Eusebio] Villatuya, President of PNB.
We all agreed that there is need to collect the delinquencies of loans as 45% of the PNB’s loan portfolio are delinquent. The worst performer are the sugar mills of which there are ten.
Official Gazette for December 14, 1972: BIR COMMISSIONER Misael P. Vera called upon all taxpayers to observe discipline in the declaration and payment of their taxes. At the same time, Mr. Vera reiterated utmost secrecy of returns filed with the BIR in connection with Presidential Decree No. 23 granting tax amnesty on previously untaxed income or wealth. The commissioner stated that all the Presidential decrees on tax reforms issued by the President under the New Society are geared towards improving tax collection and ensuring a steadier and better flow of funds for essential public projects and services. “The infusion of discipline in every aspect of our life as a people is imperative for national progress and prosperity,” Mr. Vera said. Through the policy of tax amnesty and self-confession, the BIR chief pointed out, the government will be able to collect both undiscovered and uncollected revenues and at the same time save considerable expenses in assessment and collection. “No further questions will be asked. No divulgement of source will be demanded. All declarations will be kept from the prying eye of BIR examiners,” he said.
CAMP CRAME authorities announced that there is no need for clearance from the Constabulary Highway Patrol Group for renewal of of registration of motor vehicles under the same ownership. Col. Paulino Briones Jr., CHPG commander made this clarification and specified the following which need clearances: 1) brand new motor vehicles; 2) vehicles which have been rebuilt; 3) any transfer of ownership of motor vehicles; and 4) vehicles whose possessors doubt the legality or source of their vehicles. The CHPG commander said that his office will not charge any fee in the issuance of these clearances. He requested the public to report to him any person asking for any payment or fee regarding such clearances. Vehicle owners in the provinces and seeking clearances should go to the nearest local PC command or highway patrol team.
INSURANCE COMMISSIONER Gregoria Arnaldo ordered a 25 per cent reduction on fire premium rates for private dwellings, schools and other residential buildings, and a 10 per cent across-the-board reduction on all premium rates of the Workmen’s Compensation and Employers Liability insurance. The reduction shall take effect on January l”, 1973 and shall be applicable to all new renewal policies of fire and” workmen’s compensation insurance. Commissioner Arnaldo said that the insurance industry is a service industry and insurance benefits and protection should spread and be made available to a greater segment of the country at reasonable costs.
TWO MORE TOWNS in Central Luzon have been added to the top priority list of projects of the Department of Agrarian Reform, bringing a total of 11 towns the number of pilot areas undertaking “Operation Land Transfer.” The move to include Conception in Tarlac and Arayat in Pampanga in the priority list stemmed from the President’s Letter of Instructions to DAR Secretary Conrado F. Estrella to set up land reform projects “where tenancy’ has been generating social unrest.” Arayat and Concepcion are two of the most densely tenanted towns in Central Luzon. The coverage of these towns by “Operation Land Transfer” will benefit some 3,844 farmers in 12,633 hectares of rice and corn lands.
TWELVE SPECIAL teams of Constitutional Convention delegates will form the Concon Speakers’ Bureau that will go all over the country in a nationwide campaign for the ratification of the new Constitution. The speaking sorties are designed to support the campaign conducted by the other delegates, senators and representatives, local and other government officials under the National Ratification Coordinating Council. At the same time, a nationwide youth campaign was likewise launched by the National Youth Coordinating Committee. About 400 student and youth leaders all over the country is enlisting the support not only of student groups but also of educators and scholars “who have at heart the future of the country.”
Exposure on guarrantees [sic] is $189 million. Then crop loans to sugar total P350 million which may be increased to P500 million.
We agreed to offer the Presidency of PNB to Armand Fabella.
I offered it to him in the afternoon. He has some reservations. I gave him up to tomorrow to give an answer.
Studied the decrees on mining etc. Signed the decree on foreign borrowing.
And studied the programs on steel, food production (specially rice), infrastructure.
As well as the testimony of Alex Villalon on the Osmeña and Liberal Party leaders on their plan to assassinate me and finance violent demonstrations.