ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Search for
www.chanrobles.com
:
LETTER OF INSTRUCTIONS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
|
|
LETTER OF INSTRUCTIONS NO. 1088 |
Minister of the Budget
Minister of Finance
Governor, Central Bank of the Philippines
Chairman, Development Bank of the Philippines
Chairman, Commission on Audit
In order to strengthen and hasten the implementation of the BLISS program of the Ministry of Human Settlements, you are hereby directed to:
1.
Develop and implement a countryside livelihood program through BLISS.
To initially effect this program, MHS shall front-end livelihood
component in implementing all BLISS projects.
2. Develop a
rural financial infrastructure to support the above-mentioned
countryside livelihood program utilizing the existing rural banking and
private development banks systems. Specifically, establish and
implement within the existing Central Bank guidelines and government
accounting and auditing rules a financial system for the release,
distribution, lending investment and collection of funds/remittances of
beneficiaries serviced by the BLISS program of the Ministry of Human
Settlements. The scheme shall include investments of HSDC into rural
banks/private developments banks to obtain majority control of said
banks provisions of existing laws notwithstanding as well as a
management training program for rural and private development banks
core staff oriented towards livelihood packaging.
3. Treat the
shelter, land development and livelihood expenditures for BLISS
projects into one single investment of the MHS/HSDC. Interchangeably,
all shelter, land development and livelihood loans shall be treated as
unitized loan package for mortgage purposes. Rediscounting facilities
for these mortgages shall be firmed by the Central Bank.
4. Adopt an
amortization schedule for such unitized loan package.
5. Equitize
all BLISS appropriations into the Human Settlements Development
Corporation as additional government payments to HSDC capitalization.
6. Executive
all necessary documentation for the MHS through the HSDC to own for and
in behalf of the Government of the Philippines the BLISS lands donated
by the municipal governments.
For immediate compliance.
chanrobles virtual law library
Back to Main
Since 19.07.98.