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TO:

National Economic and Development Authority Central Bank of the Philippines Department of Finance Department of Industry Department of Agriculture Department of Trade Department of Local Government & Community Development Department of Tourism Department of National Defense Development Bank of the Philippines Philippine National Bank Government Service Insurance System Social Security System Bureau of Internal Revenue Metropolitan Waterworks and Sewerage System National Electrification Administration National Grains Authority Philippine National Railways Philippine Virginia Tobacco Administration Fertilizer Industry Authority Philippine Coconut Authority Philippine Veterans Development Corporation Export Processing Zone Authority National Cottage Industries Development Authority National Housing Authority National Power Corporation Tariff Commission Embroidery and Apparel Control & Inspection Board (All Concerned Government-Owned and Controlled Corporation)

WHEREAS, the National Economic and Development Authority Board, the highest economic policy-making body of the country, must regularly be informed on the different subsidy programs of the government with respect to the resource needs, the effectiveness, and the duration of these programs;

WHEREAS, the cooperation of all concerned agencies is imperative in order to obtain data for effective and rational policy formulation on government subsidies;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby give the following instructions:

(1) All government offices and government-owned or controlled corporations receiving, programming and/or providing government subsidy in any amount or form and for whatever purpose, shall submit to the National Economic and Development Authority, within sixty (60) days after the end of each fiscal year, including FY-1975, a status and evaluation report and all data needed and relevant thereto on any government subsidy received, programmed and or provided by them.  Special interim reports shall also be submitted whenever requested by the NEDA.

(2) Government subsidy shall include price support schemes for specific commodities; aids or grants; interest foregone from expansion of loans, advances or discounts at preferred (to be specified) rates of interest; interest paid or to be paid on borrowings in excess of normal  (to be specified)  rates of interest; and tax and tariff exemptions and rebates, as well as direct government outlays.

(3)  The National Economic and Development Authority shall, in consultation with the concerned agencies, prepare the rules necessary for the implementation of this Letter of   Instruction within sixty (60) days after issuance hereof.

Done in the City of Manila, this 13th day of August, in the year of Our Lord, nineteen hundred and seventy-five.