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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 366
TO
: The Secretary of Finance
WHEREAS, the backpay claims of members of the Philippine Army and of
recognized guerilla forces and the Philippine Scouts under R.A. No.
304, as amended by R.A. No. 897, are redeemable without interest thirty
(30) years from the date of the approval of the amendatory Act on June
20, 1953 depending upon the availability of funds which shall be
determined by the Treasurer of the Philippines;
WHEREAS, the total amount of the aforesaid backpay claims (otherwise
known as veterans-guerilla backpay claims) acknowledged from June 20,
1953 to August 31, 1975 amounted to P104,379,068.82 of which
P51,819,025.66 was used by backpay claimants in payment of their taxes,
thereby leaving a balance of P51,819.025.66 still payable to
veterans-guerilla backpay claimants;
WHEREAS, the records of the Bureau of the Treasury show that the
resources of the Backpay Sinking Fund under R.A. 897 created to redeem
the guerilla backpay claims as of November 30, 1975, amount to
P33,969,546.41;
WHEREAS, since the approval of R.A. No. 897 on June 20, 1953, many army
and guerilla veterans who are entitled to the benefits under the said
Act, have died either due to old age or other causes, without enjoying
their backpay benefits;
WHEREAS, in justice to the guerilla veterans of World War II still
living and to the widows and orphans of those now deceased, and in
order to ameliorate their situation, it is but fair to effect
redemption, even if only partially, of the back pay claims of those
living old-aged war veterans and the heirs of those departed.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
do hereby give the following instructions:
1.
The Treasurer of the Philippines shall effect
annual partial redemptions of the backpay claims of guerilla war
veterans authorized under R.A. 897, each in an amount to be determined
by the Secretary of Finance and that said payment shall continue until
the total backpay of each claimant shall have been fully liquidated.t
2. The
Secretary of Finance shall promulgate the
rules and regulations for the effective implementation of this Letter
of Instructions.
3. This Letter
of Instructions shall take effect
immediately.
Done in the City of Manila, this 22nd day of January in the year of Our Lord nineteen hundred and seventy-six.
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