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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1227 |
The Minister of the Budget
The Treasurer of the Philippines
The Chairman, Philippine National Oil Company
In a collaborative effort parallel to the development of the country's energy resources, the Philippine National Oil Company (PNOC) and its subsidiaries have established programs directed towards the control of energy-related environmental problems and the development of non-conventional energy resources.
Recognizing that investments in these programs, important as their role may be in our overall energy development scheme, cannot be funded readily, we hereby direct the Treasurer of the Philippines to release PESOS EIGHTEEN MILLION AND SEVEN HUNDRED THOUSAND (P18,700,000.00) out of the Special Fund created pursuant to Sec. 8 of Presidential Decree 910 to fund the acquisition of a micro-distillery unit and the 1982 operating and capital budgets of PNOC-Environmental Management Division and PNOC-Energy Research and Development Division.
PNOC is directed to submit a report accounting for the disbursements and utilization of the foregoing funds not later than one month after the end of the fiscal year.
This Letter of Instruction shall take effect immediately.
Done in the City of Manila, this 12th day of April, in the year of Our Lord, nineteen hundred and eighty-two.
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Since 19.07.98.
