Worked on prices (rice, cement and milk) the IISMI [Iligan Integrated Steel Mills Inc.] problem, DBP [Development Bank of the Philippines], imports, production and related matters
Official Gazette for July 6, 1971: President Marcos had a three-hour conference with members of the Price Control Council and a number of Cabinet members on the stabilization of prices, particularly of prime commodities. During the conference the President directed the Rice and Corn Administration to release to the public as much of the newly imported rice as necessary at ₱2.10 to ₱2.20 per ganta, to prevent hoarding and price manipulation. At the same time, he called for a close watch on price trends and directed several members of his Cabinet to submit immediately updated statistics on the supply of rice, cement, and other local manufactures likely to be affected by price increases.
The President also informed those who attended the meeting that he could not create a Price Control Council with powers to punish those who increase prices beyond reasonable levels. Because of this, “we can only monitor prices,” the President said, “and the Central Bank, the Department of Commerce and Industry, and the National Economic Council are continuously monitoring price levels.” During the conference, the President also directed:
1. The Central Bank to release additional dollars up to double the normal requirements for the importation of consumer goods. 2. The Bureau of Customs to promptly release all imports of consumer goods provided all legal requirements are compiled with by importers. 3. The Central Bank and the Development Bank of the Philippines to fund, further imports required by tinplate manufacturers to meet deficiencies and maintain current levels. 4. Central Bank Gov. Gregorio S. Licaros to meet with the Bankers Association’ of the Philippines and seek exemption of imported consumer goods from the imposition of a per cent marginal deposit requirement.
Present at the meeting were Secretaries Arturo Tanco, Jr. of Agriculture and Natural Resources, Cesar E. A. Virata of Finance, Ernesto Maceda of Commerce and Industry, Executive Secretary Alejandro Melchor, Jr., DBP Chairman Leonides S. Virata, CB Governor Gregorio S. Licaros, NEC Chairman Gerardo Sicat, PES Director-General Apolinario Orosa, Budget Commissioner Faustino Sy-Changco, Undersecretary of Finance Alfredo Pio de Roda and Assistant Executive Secretary Roberto V. Reyes.
Following the conference, the President conferred on Alan Ford, first secretary of the U. S. Embassy in Manila, the Philippine Legion of Honor, degree of Legionnaire, for outstanding services in enhancing Philippine-American relations. Ford was scheduled to return to Washington, D. C. after a four-year tour of duty in this country. Present at the conferment rites were U. S. Ambassador Henry Byroade, Executive Secretary Alejandro Melchor, Jr., Gen. Manuel T. Yan, AFP chief of staff; and Rear Admiral George Muse, commander of the U. S. Naval Forces in the Philippines.
Toward noon, the President received a number of provincial delegations, including one of Sorsogon mayors accompanied by Rep. Rafael C. Aquino. The local officials discussed with the President matters concerning their respective constituencies. The President devoted the afternoon to desk work.
In the evening, the President inducted the newly elected officers of the Malacañang Press Corps, headed by Jose de la Cruz of the Philippines Herald, president. The other MPC officers inducted were Primitivo Mijares of The Manila Chronicle, vice president; Domingo Quimlat of the Taliba, secretary Manuel Salak of The Manila Times, chairman; and David Borje of The Evening News, board member.
in a conference from 9-11 AM and then met both the public and private sector on forestry policies. I want the income of government from logging to increase by at least P100 million beyond the expenses of the two bureaus (Forestry and Reforestation).
Then awarded the Legion of Honor to Alan Ford, First Secretary of the U.S. Embassy from 1967 to 1971 promoted to Washington as Assistant Chief of Military Assistance.
The Cons. Con. [Constitutional Convention] is now taking up the question of what form of government they should adopt, the present presidential system or a parliamentary form of government or semi-parliamentary.
Stayed up late talking to [Jose] Joe Campos on the economic picture and [Maria Luisa] Ising and [Daniel] Danny Vazquez who are feuding with Ising’s brothers and sisters specially Beleck because they cannot get their huge Madrigal fortune divided.