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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 976 -
APPROVING THE CY 1980 OPERATING BUDGETS OF VARIOUS GOVERNMENT OWNED OR
CONTROLLED CORPORATIONS, UNDER CERTAIN CONDITIONS |
The Chairman, Commission on Audit
The Chairman, Civil Service Commission
The Minister of the Budget
WHEREAS, Executive Order No. 518 establishes the policy, procedure and timetable for the preparation and approval of the operating budgets of government owned or controlled corporations;
WHEREAS, certain government owned or controlled corporations have submitted for approval, their respective operating budgets in compliance with the said Executive Order and the implementing rules and regulations:
WHEREAS, the new system for the approval of corporate budgets is being implemented for the first time in 1980, with the attendant transitional difficulties;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby Order and Instruct:
1.
The internal operating budgets of the government owned or controlled
corporations included in the list herewith attached are hereby
approved, pursuant to the provisions of Executive Order No. 518 and
subject to the conditions herein established. The Minister of the
Budget shall officially advise the corporate Chairmen and Heads of the
details of the approved budgets;
2. Executive
Order No. 518 requires that no government owned or controlled
corporation shall incur obligations or make payments for current
operating or capital expenditures after the beginning of each calendar
years without a budget approved under the said Order. However, as a
transitional measure for 1980, the corporations not covered by item no.
1. hereof are hereby authorized to incur obligations and make payments
during the months of January and February 1980 within the limits of
their average monthly expenditure levels in 1979. These corporations
shall submit their operating budgets for approval on or before February
15, 1980. The provision of Section 15 of E.O. No. 518 shall be strictly
enforced beginning March 1, 1980.
3. Approval of
the proposed expenditure levels shall not be construed to mean
automatic approval of increases in salary, allowances, fringe benefits
or other components of personnel compensation that are otherwise
supportable by the said expenditure levels. Any increases in
compensation shall be subject to the provisions of P.D. No. 985 and the
applicable implementing Presidential Order.
4. The Heads
of government owned or controlled corporations shall submit on or
before February 15, 1980 their respective plantilla of itemized
positions, observing such format and submitting such information as may
be required by the Minister of the Budget.
5. The
Chairman, Commission on Audit, the Chairman Civil Service Commission,
and the Minister of the Budget shall see to it that the provisions of
the Letter of Implementation governing the salaries, allowances and
fringe benefits of corporate officials and employees are fully observed.
6. Approval of
the proposed expenditure levels shall not be construed to mean
automatic approval of proposed government equity investments and
proposed borrowings, both of which shall be subject to review and
approval in accordance with established law and procedure.
7.
Notwithstanding the approval of the expenditure levels proposed by
corporations, it shall be understood that expenditures, whether for
current operating expenditures or for capital outlays, shall be made
only with the availability of funds realized from the revenue,
borrowing, or equity investments approved as the source of funding of
the said expenditures.
8. Any
supplemental budgets, including additional funds appropriated or deemed
appropriated, which are approved by corporate Government Boards, shall
be submitted to the Minister of the Budget for appropriate action as
called for under Section 10 of E.O. No. 518.
Done in the City of Manila, this 31st day of December, nineteen hundred and seventy-nine.
List of Government Owned or Controlled Corporations whose CY 1980 operating budgets are approved pursuant to the provisions of E.O. No. 518.
Financial
Institutions
Development
Bank of the Philippines
Land Bank of the Philippines
Masaganang
Sakahan, Inc.
Lumang Bayan Realty Development
Corporation
Philippine National Bank
National
Investment and Development Corporation
PNB
International Finance Ltd. HK
Social Security System
Government Service Insurance
System
National Home Mortgage Finance
Corporation
Home
Development Mutual Fund
Philippine Deposit Insurance
Corporation
Infrastructure/Utilities
National Electrification
Administration
National Housing Authority
Philippine Aerospace Development
Corporation
Philippine Ports Authority
Industrial/Area Development
Laguna Lake Development Authority
Leyte Sab-A Basin Development
Authority
Public Estates Authority
Export Processing Zone Authority
Educational/Social/Scientific/Cultural
Employee Compensation Commission
Metals Industry Research and
Development Center
National Research Council of the
Philippines
Philippine Institute of
Development Studies
Philippine Veterans Assistance
Commission
Science Foundation of the
Philippines
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