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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1201 |
The Minister of the Budget
The Treasurer of the Philippines
The President, National Power Corporation
The major thrust of the country's energy development program has been to accelerate the development of indigenous energy resources in order to displace fuel oil usage and lessen our dependence on imported oil. One of the major implementing arms of this policy has been the National Power Corporation (NPC) whose power expansion program has been successful in lessening the share of oil-based power plants in power generation from 80% in 1977 to only 59% in 1981. In order to allow NPC to maintain the momentum of its program and to ensure that it meets the target of its power expansion program, which has been favorably passed upon and approved by the Cabinet, it is imperative that adequate funding support be given. Therefore the Treasurer of the Philippines is hereby directed to release to NPC out of the Special Fund created under Sec. 8 (j) of R.A. 6173 as amended the amount of P585,000,000.
The NPC is also directed to submit to the President of the Philippines through the Minister of Energy a report accounting for the disbursement and use of the foregoing amount.
This Letter of Instruction takes effect immediately.
Done in the City of Manila, this 1st day of March in the year of Our Lord, nineteen hundred and eighty-two.
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