December 6, 1972
The PNB is in a bad state financially I attach the letters of Gen. Licaros and Pres. Villatuya of PNB.
Met Francis (Pat) Parker of the Janesco which owns Bonnit Teller, Jarman Shoes. I. Miller and other outlets and buys $1.3 billion of apparel annually. Encouraged the setting up of garment factories with our textile mills.
Refrigeration — ship of 300 tons according to Gen. Balao cost $1 million. So I have asked through Rudy Cuenca whose CDCP is building the refrigerated warehouses of the Greater Manila Food Terminal Market to ask the German manufacturers to come to the Ex. P Zone to set up a refrigeration factory.
And oil cracking or chemical factory.
As well as the steal blast furnace and copper smelters.