Proclamation No. 1590




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ Proclamation No. 1590, October 12, 1976 ] DECLARING OCTOBER 12, 1976 TO OCTOBER 11, 1977 AS CREDIT CONSCIOUSNESS YEAR WHEREAS, conscious of the exigency that, in order to accelerate rural development and growth, credit resources have to be generated and expanded through effective financial intermediation and sound lending operations, a “National Commission on Countryside Credit and Collection has been created to take charge of strengthening and rationalizing the country’s rural credit system; WHEREAS, to achieve the objectives for which the National Commission on Countryside Credit and Collection was created, it is necessary to inculcate in the minds of the citizenry the vital importance of credit insofar as it relates to the country’s economic development; WHEREAS, stressing the importance of credit in an effective and rational manner can only be achieved through a continuing campaign that will involve all sectors of society as well as all levels of the government — national, provincial, city, municipality and barangay; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby declare the period from October 12, 1976 to October 11, 1977 as “Credit Consciousness Year” and hereby direct the National Commission on Countryside Credit and Collection created under Executive Order No. 465 dated April 28, 1976 to undertake all such measures as may be necessary to insure the successful observance thereof and I enjoin all sectors of our society and all levels of the government — national, provincial, city, municipality, and barangay — to extend their cooperation.1aшphi1 IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed. DONE in the City of Manila, this 12th day of October, in the year of Our Lord, nineteen hundred and seventy-six. (Sgd.) FERDINAND E. MARCOS President Republic of the Philippines By the President: (Sgd.) JUAN C. TUVERA Presidential Assistant The Lawphil Project - Arellano Law Foundation