September 6, 2011

EXECUTIVE ORDER NO. 54

TRANSFERRING THE PITC PHARMA, INC. TO THE DEPARTMENT OF TRADE AND INDUSTRY FROM THE DEPARTMENT OF HEALTH FOR POLICY AND PROGRAM COORDINATION AND FOR OTHER PURPOSES

WHEREAS, the PITC Pharma, Inc. (PPI) is a Government-Owned and Controlled Corporation (GOCC) incorporated and existing pursuant to

WHEREAS, sixty percent of PPI's outstanding capital stock is owned by the Philippine International Trading Corporation (PITC), while forty percent thereof is owned by the National Development Company (NDC);

WHEREAS, PITC and NDC are both GOCCs attached to the Department of Trade and Industry (DTI);

WHEREAS, pursuant to ex officio Chairperson of the Board of Directors of PPI; SDHITE

WHEREAS, there is a need to place PPI under the DTI to improve policy and program coordination relative to the Government's procurement and importation of drugs and medicines under

WHEREAS, under Section 31, Chapter 10, Title III, Book III of the

NOW, THEREFORE, I, BENIGNO S. AQUINO III, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. Transfer of PPI from DOH to DTI. The PPI shall be transferred from DOH to DTI to improve policy and program coordination relative to the Government's procurement and importation of drugs and medicines under

SECTION 2. Repealing Clause. All executive issuances or portions thereof which are inconsistent with this Executive Order are hereby revoked, amended, or modified accordingly. cSATDC

SECTION 3. Separability. If any provision of this Executive Order is declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.

SECTION 4. Effectivity. This Executive Order shall take effect immediately upon publication in a newspaper of general publication.

DONE in the City of Manila, this 6th day of September, in the year of Our Lord, Two Thousand and Eleven.