Presidential Decree No. 977 Creating the Philippine Fish Marketing Authority, Defining Its Functions and Powers, and for Other Purposes.

It is the policy of the Government to promote the development of the fishing industry and improve efficiency in the handling, preserving, marketing and distribution of fish and fishery/aquatic products through the establishment and operation of fish markets and the efficient operation of fishing ports' harbors and other marketing facilities. To carry out the above policy, the Philippine Fish Marketing Authority shall be established. The main powers and functions of the Authority include: (a) To manage, administer, operate, improve and modernize, coordinate and otherwise govern the activities, operations and facilities in the fishing ports, markets and landings that may hereinafter be placed under, or transferred to, the Authority and such other fish markets, fishing ports/harbors and infrastructure facilities as may be established under this Decree; to investigate, prepare, adopt, implement, and execute a comprehensive plan for the overall development of fishing port and market complexes and update such plan as may be necessary from time to time; to construct or authorize the construction in the land area under its jurisdiction, of infrastructure facilities, factory buildings, warehouses, cold storage and ice plants, and other structures related to the fishing industry or necessary and useful in the conduct of its business or in the attainment of the purposes and objectives of this Decree; to acquire, hold and dispose real and personal property in the exercise of its functions and powers; (b) To provide market intelligence, market information and advisory and promotional services to individuals and groups involved in the fishing industry, both in the private and public sectors; (c) To determine, regulate, control and supervise the operation of the enterprise which the Authority may authorize to be established within the fish markets and other fishery facilities; etc.