Date Posted March 2015.

The Department of budget and Management (DBM) has approved last 29 May 2013 the Rationalization Plan (RP) consolidating the Fiber Industry Development Authority (FIDA) and the Cotton Development Authority (CODA) into the Philippine Fiber Industry Development Authority (PhilFIDA). View letter from DBM
Subsequently, DA secretary Prospero J. Alcala issued Department Order No.2 Series of 2013 dated 1 August 2013 instructing the abovementioned attached agencies to transfer to PhilFIDA all functions and powers vested to them by law.
Also included in the Order is for PhilFIDA to consolidate the transferred functions, corresponding balances of appropriations, records, equipment, properties and such personnel as may be necessary and in accordance with the approved Rationalization Plan. 

Secretary Alcala also directed the DA Inventory Team to conduct the inventory and transfer of CODA/FIDA assets to PhilFIDA. At the same time, the DA Chief announced the Selection and Placement Board (SPB) prescribed by DA for consolidated agencies under the Rationalization Program will screen applicants for the vacant positions identified in the approved RatPlan or positions that may be vacated/affected due to the placement/movement of other staff, for endorsement to the Secretary for their appointment.

Eduardo B. Holoyohoy is the designated Officer-in-Charge, Executive Director of PhilFIDA.