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PRESIDENT Arroyo has ordered the merger of the National
Livelihood Support Fund (NLSF) and the Livelihood Corp.
(Livecor) to strengthen the government’s efforts to
generate and develop livelihood and community-based
enterprises in Agrarian Reform Communities (ARCs).
Executive Order (EO) 681, signed by the President on
November 22, merges the two agencies under the corporate
name Livecor, a nonstock, nonprofit body attached to the
Land Bank of the
Philippines
(LandBank).
The
merged entities shall “undertake the promotion,
generation and development of livelihood and
community-based enterprises primarily in agribusiness,
including those in ARCs, that will cater to the low
income bracket.”
The new
corporation “shall take charge of developing and
administering livelihood programs using the NLSF funds.”
Livecor
will get an additional funding of P1 million from the
earnings of the NLSF.
The
board of directors, the policy-making body of Livecor,
will include the secretary of Agriculture as ex-officio
chairman and the executive director of the NLSF
secretariat as ex-officio vice chairman.
The
members of the board, who will serve a one-year term,
will be nominees of the President and the Department of
Agrarian Reform, LandBank, and the Department of
Interior and Local Government to be approved by the
President.
The
president of Livecor will be the director of the present
NLSF secretariat.
The
President assured NLSF employees and personnel that they
will be absorbed by the new Livecor and accorded the
same benefits, privileges and other entitlements
similarly received
by LandBank employees and officers, subject to the
conditions imposed by the new Livecor board. |
