MANILA, Philippines ? President Gloria Macapagal-Arroyo has issued an executive order authorizing the National Food Authority, Food Terminal Inc. and the Philippine International Trading Corp. to intervene in the stabilization of the supply and price of basic items.

In Executive Order No. 834, Ms Arroyo authorized the three agencies to include basic food items (other than staple cereals) which they deemed were necessary to stabilize the supply and price of basic commodity under their commodity coverage.

In the same order, dated October 15, Arroyo also allowed the agencies to use their funds, manpower, facilities, and credit lines for this purpose.

"The National Food Authority, Food Terminal Inc. and the Philippine International Trading Corp., considering their capability and experience in the marketing of grains and non-grain commodities, are the most appropriate government agencies to intervene in the stabilization of basic food items,'' Ms Arroyo said.

"In times of national emergency or calamity, the welfare of the people becomes the supreme law,'' she added.