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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1168 |
Minister of Finance
Minister of the Budget
Governor, Central Bank
Chairman, Human Settlements Development Corporation
Chairman, National Housing Corporation
Chairman, Development Bank of the Philippines
Chairman, Philippine National Bank
Chairman, Government Service Insurance System
Chairman, Social Security System
Chairman, Commission on Audit
All Concerned
WHEREAS, the provision of adequate shelter is a declared policy of government;
WHEREAS, the government is equally concerned with the provision of housing that is economically viable and within the affordable levels of the people;
WHEREAS, the greater portion of present housing construction cost is accounted for by the cost of housing materials;
WHEREAS, significant savings on the cost of construction materials can be realized through systematized volume purchases by government and making them directly available to builders and developers;
WHEREAS, this move shall harness existing industries enabling them to increase their present capabilities which are way below their rated capacities;
WHEREAS, the current construction industry practices do not apply such standards that can effect maximum materials' utilization and minimum wastes that result in further increasing costs;
WHEREAS, the standardization of housing construction materials and components shall result in significant cost savings;
WHEREAS, the government is in a position to provide the necessary impetus for the adoption of these measures;
WHEREAS, the MHS is tasked with the mission of ensuring the delivery of economically viable and generally affordable housing, either as a direct undertaking or in joint venture with the private sector;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested upon me by law, do hereby direct that:
1.
Immediate steps be taken by the HSDC in conjunction with the agencies
and offices concerned to ensure volume purchases of construction
materials and the timely acquisition of the same by builders and
developers.
2. Standard
specifications for housing components be adopted in all MHS-undertaken
and MHS-assisted housing projects.
3. Savings
realized through the above stated approaches shall result to
proportional reduction of selling prices of completed units.
4. Immediate
acquisition from its present owners and operationalization of NHC by
HSDC to allow the government to provide the lead in this undertaking.
For this purpose, the HSDC is
hereby authorized to restructure the NHC loan with DBP with terms and
conditions protecting the interest of the government and the financial
institutions concerned. In addition, NHC as reorganized shall establish
regional offices and networks for stockpiling/inventory and production
activities as well. Rediscounting by DBP and/or other government
banking institution of the stockpiling and inventory financing is
likewise authorized.
5. The NHC
through HSDC shall be authorized to import related equipments and
machineries required in its production activities and regional
networks. Corollary to these activities, NHC may go into equipment
leasing at terms and conditions to be approved by the HSDC Board.
Financing arrangements for the leasing activities shall be arranged
with DBP, PNB or Land Bank.
6. Proceeds
from the sale of Biglang Bahay Bonds may be utilized for the
realization of the foregoing. In addition, an operating working fund
equivalent to P15 million from Special Activities Fund is hereby
authorized for release to NHC to operationalize the restructured NHC
plants and its various regional networks.
7. This Letter
of Instructions shall take effect immediately.
Done in the City of Manila, this 14th day of October, in the year of Our Lord, nineteen hundred and eighty-one.
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