Had Dr. Zahvkar of the IMF [International Monetary Fund] for lunch after meeting with Thailand’s Minister of Foreign Affairs Thanat Khoman. In the luncheon was Sen. Pres. Gil Puyat, Cong. Joaquin Roces representing Speaker [Jose B.] Laurel, Gov. [Gregorio] Licaros of the Central Bank, Sec. Cesar Virata of Finance. Dr. Zahvkar feels we will have 6 to 8 months more of difficulties but provided we balance the budget and increase our taxes or tax collection, we have passed the critical stage (“crossed the hump” he puts it) and all we need is a little patience.
We agreed to get the Monetary Board to authorize dollar accounts in all banks, dollars to be held authorized to be spent only by the depositor, and to approve laws improving the tax system like the removal of the subsidies and exemptions and the classification “and others” in the Customs and Tariff Code. Puyat now seems to be reconciled to an increase of the gasoline tax as we have the lowest in the whole world. We should raise about P650 million more in tax resources.
Administered the oath to Jose Crisol as Undersecretary of National Defense (on Home Defense Affairs); met with the Lanao del Sur mayors, governor and congressman on the charge of breakdown of municipal governments; the Fiscal Policy Committee and hosted the reception for the delegates to the Seato [Southeast Asia Treaty Organization].
Official Gazette for July 3, 1970: Starting his day with an early morning session with state papers in his study, President Marcos steadily worked uninterrupted until about noon when he set aside his work to receive Thai Foreign Minister Thanat Khoman, who came on a courtesy call.
After the brief call, the President resumed his work until 12 noon when he had Dr. Savkar of the IMF as luncheon guest. Also present at the lunch were Senate President Gil J. Puyat, Rep. Joaquin Roces who represented Speaker Jose B. Laurel, Jr.; Secretary of Finance Cesar E, A. Virata, and Central Bank Gov. Gregorio S. Licaros. Briefly relaxing after the meeting, the President returned to his desk work about 3 p.m., then at 4 p.m. interrupted himself to swear in the new undersecretary of defense for home defense affairs, Jose M. Crisol. Also inducted in separate ceremonies were Dr. Mauyag Tamano as president of the Mindanao State University, and Angel Limjoco, Jr. as governor of the Board of Investments, and Judge Moises Dalisay as district judge.
The President followed this stint with a conference on the problems of Lanao del Sur, attended by officials of that province.
At 5 p.m., the President was again deep in conference, this time with the Fiscal Policy Council. The meeting was called to take up the points raised by Dr. Savkar in the earlier meeting at lunch, and other fiscal problems as well. In another area of concern, the President ordered the preparation of a realistic and workable national program on crime prevention and treatment. The President’s directive was embodied in Administrative Order No. 225 which also created a Committee on Crime Prevention and Treatment as an arm of the Peace and Order Coordinating Council (POCC). The President emphasized to the Committee the need for community awareness by the hazards of criminality and for getting the citizens involved in the prevention and treatment of crime.
In the evening the President played host along with the First Lady, Mrs. Imelda R. Marcos, at a reception for the delegates to the ministerial meeting of the Southeast Asia Treaty Organization.