Republic Acts1 min read
Section 98December 22, 1997, Sec./Art. 98
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Principles. - The Department, in coordination with the appropriate government agencies, shall formulate the Basic Needs Program to create employment and cushion the effect of liberalization based on the following principles:
a) No credit subsidies shall be granted. The normal rules of banking shall apply to all enterprises involved, provided that existing credit arrangements with ARBs shall not be affected.
b) Enterprises can use training, information, advisory and related services of the Government free of charge.
c) The participation of the private sector shall be voluntary.
Teams composed of specialists from government agencies and the private sectors shall develop pilot programs in selected locales to establish the planning, implementation and evaluation procedures.
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