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[ LETTER OF INSTRUCTIONS NO. 1124, May 05, 1981 ]
| TO: | The Minister of Energy The Minister of the Budget The Treasurer of the Philippines The Chairman, National Irrigation Administration |
A review made by the Cabinet Standing Committee of the Magat Multi-Purpose Project has determined that the budgetary appropriation for 1981 for said project will be inadequate to cover the peso counterpart requirements. Since any delay in this project would have a significant impact on the country's irrigation and energy programs, an additional budgetary release of P332,000,000 to the National Irrigation Administration (NAI) is required to ensure that this project proceeds on schedule. Therefore, the Treasurer of the Philippines is hereby directed to release to NIA out of the Special Fund created under Section 8 (j) of R.A. 6173 as amended, the amount of P332,000,000.
The NIA is also directed to submit to the President of the Philippines through the Minister of Energy a report accounting for the disbursement and use of the foregoing amount.
This Letter of Instruction takes effect immediately.
Done in the City of Manila, this 5th day of May, in the year of Our Lord, Nineteen Hundred and Eighty One.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
President of the Philippines