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MEMORANDUM CIRCULARS
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MEMORANDUM CIRCULAR NO. 10 -
RECONSTITUTING THE GOVERNMENT CORPORATE MONITORING AND COORDINATING
COMMITTEE CREATED UNDER EXECUTIVE ORDER NO. 936, DATED FEBRUARY 29, 1984
WHEREAS, the Government is determined to
pursue a program of economic recovery and stability;
WHEREAS, the public sector finances have to be carefully planned,
evaluated, and coordinated; and
WHEREAS, there is a need for a mechanism to monitor and coordinate the
activities of government-owned and controlled corporations both
financial and non-financial.
IN VIEW THEREOF, the Government Corporate Monitoring and Coordinating
Committee created under Executive Order No. 936, dated February 29,
1984, is hereby reconstituted and shall operate as a subcommittee of
the Cabinet. It shall be composed of the Minister of Finance as
Chairman, and the Director General, Office of Budget and Management,
the Governor, Central Bank of the Philippines, the Director General,
National Economic and Development Authority, and the Chairman,
Commission on Audit as Members. The members may designate alternates to
represent them in the meetings of the Committee, provided that such
alternates shall not be lower than their deputy ministers or their
equivalents.
The Committee shall have the following duties and functions:
1.
2.
3.
4.
The Committee shall be assisted by a technical and administrative staff that shall be responsible for the day-to-day operating concerns involved in the monitoring and coordinating functions of the Committee.
The technical secretariat may be staffed from direct hire and may be augmented as necessary by personnel on part-time or full-time detail from member agencies of the Committee and from other agencies undertaking related work, as well as such consultants as may be necessary.
The Committee shall be based at the Ministry of Finance, and all its present personnel, equipment and records shall be accordingly transferred to the Ministry of Finance.
The amount of ONE MILLION AND FIVE HUNDRED THOUSAND PESOS (P1,500,000.00) is hereby authorized to be released to the Committee chargeable against the Special Activities Fund or any applicable appropriation item provided for in Batas Pambansa Blg. 879.
The provisions of Executive Order No. 936, dated February 29, 1984, insofar as they are inconsistent with this Memorandum Circular are hereby modified, amended or repealed. All laws, decrees, issuances, rules and regulations or parts thereof, which are inconsistent with any of the provisions of this Memorandum Circular, are hereby repealed or modified accordingly.
This Memorandum Circular shall take effect immediately.
Manila, May 19, 1986.
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