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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 658 |
The Secretary of Natural Resources
The Secretary of Industry
The Secretary of Local Governments and
Community Development
The President, National Investment and
Development Corporation
The President, Philippine Veterans Investment and
Development Company
In line with national policy of spreading the benefits of economic growth to as many people as possible, you are hereby instructed to constitute a committee, with the Secretary of Finance as Chairman, to
(1)
establish forthwith a regional cooperative in
Regions I and II, with the National Investment and Development
Corporation as the organizing as the organizing unit, to purchase the
shares of stock of Cellophil Resources Corporation and Philippine
Cellophane Film Corporation and run their logging and manufacturing
operations;
(2) arrange
the transfer of the logging concession of Cellophil Resources Corp. to
the regional cooperative;
(3) negotiate
the purchase of the shares of stock of Herditex Mills., with the
Philippine Veterans Investment and Development Corp. as purchaser and
operator of the textile mill; and
(4) submit
monthly progress reports on the work of the Committee.
Done in the City of Manila, this 14th day of January, in the year of Our Lord, nineteen hundred and seventy-eight.
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