Sec. 2. Functions of the Committee. — The Committee shall have the following functions:

a) To monitor all economic problems of the Government which require daily assessment and solution;

b) To receive and make proper staff studies on all problems presented to it by the various Ministries;

c) To cutline all courses of action to be taken on all problems presented to it to help the President/Prime Minister in the decision-making process;

d) To receive and attend to all problems brought to it by any Ministry;

e) To organize its own staff which shall thoroughly study any problem presented to it before the Committee submits its recommendations, together with a set of options and alternatives, to the President/Prime Minister;

f) To call upon any official to participate in its meeting so that any matter brought up to it may be adequately ventilated.

g) To seek the assistance/advice of any ministry, office, agency or entity of the government in the performance of its tasks; and

h) To meet as often as possible and cut through bureaucratic red tape in attending to the urgent economic problems spawned by the increase of oil prices and monitor their implications and effect on the economy.

Sec. 3. Secretariat of the Committee. — In the absence of any organized staff of its own, which will be drawn from the respective offices of the members of the Committee, the Cabinet Secretariat and the Presidential Management Staff shall provide the basic core of the secretariat of the Committee which shall be assisted by the officials assigned to the President’s Study Room.

Sec. 4. This Order shall take effect immediately.

Done in the City of Manila, this 10th day of August, in the year of Our Lord, nineteen hundred and seventy-nine.

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Since 19.07.98.