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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 838 |
Directing the Minister of Energy to Monitor, Audit,
Verify Payments To and Disbursement From the Special
Fund Created Under the Republic
Act 6173, as amended.
WHEREAS, a Special Fund has been created under Republic Act 6173, as amended to be utilized for projects relating to the consumption or use of crude oil, gas and other petroleum products; for the development of other sources of energy, for exploration and researches on conservation, anti-pollution and other similar studies; to subsidize importation of crude oil and refined petroleum products by government agencies, or government owned or controlled corporations, to assure adequate and continuous supply of petroleum products at reasonable prices; and such other special economic and social products as may be determined by the President of the Philippines.
WHEREAS, the Special Fund shall be administered as the President may direct; and
WHEREAS, since the creation of the Special Fund, substantial collection has been made, necessitating the need for a body that will monitor, audit, and verify payments to, and disbursements from the Special Fund in order to assure proper accounting thereof.
NOW THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, hereby direct:
1.
The Minister of Energy to monitor, audit, and verify payments to and
disbursements from the Special Fund created under Sec. 8 (J) of
Republic Act No. 6173, as amended.
2. The
Ministry of Energy shall render periodic reports to me on the foregoing.
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