Additional Budgetary Release for Completion of the Magat Multi-Purpose Project
Letter of Instructions No. 923, issued on August 30, 1979, addresses the funding needs for the Magat Multi-Purpose Project, which is crucial for irrigation and energy programs in the Philippines. An inter-agency study indicated that the 1979 budget was insufficient, necessitating an additional allocation of P200,000,000 to the National Irrigation Administration (NIA). The Treasurer of the Philippines is instructed to release this amount in four installments of P50,000,000, scheduled for specific dates between September 1979 and June 1980. The instructions are to be implemented immediately to avoid delays in the project's progress.
Law Information
- Reference Number
- Letter of Instructions No. 923
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
August 30, 1979
LETTER OF INSTRUCTIONS NO. 923
| TO | : | The Minister of Energy |
| The Minister of the Budget | ||
| The Treasurer of the Philippines | ||
| The Chairman, National Irrigation Administration |
An inter-agency study on the Magat Multi-Purpose Project by the Ministries of Energy, Finance, Budget and Public Works has determined that the budgetary appropriation for 1979 for said project inclusive of the amounts released under LOI No. 736 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 P200,000,000 to the National Irrigation Administration (NIA) 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 following amounts on the dates specified hereunder. cd
1. The sum of fifty million (P50,000,000) on September 30, 1979.
2. The sum of fifty million (P50,000,000) on December 31, 1979.
3. The sum of fifty million (P50,000,000) on March 31, 1980.
4. The sum of fifty million (P50,000,000) on June 30, 1980.
This Letter of Instruction takes effect immediately.
DONE in the City of Manila, this 30th day of August, in the year of Our Lord, Nineteen Hundred and Seventy-Nine. cd i
Cite This Law
Additional Budgetary Release for Completion of the Magat Multi-Purpose Project, Letter of Instructions No. 923, Aug 30, 1979 (Philippines)
Additional Budgetary Release for Completion of the Magat Multi-Purpose Project, Letter of Instructions No. 923 (Phil. 1979)
Related Laws
- Additional Budgetary Release for Completion of Magat Multi-Purpose ProjectLetter of Instructions No. 736 • Sep 4, 1978 • Presidential Issuances
- Additional Budgetary Release for Completion of the Magat Multi-Purpose ProjectLetter of Instructions No. 1124 • May 5, 1981 • Presidential Issuances
- Release of Additional Funds for the Completion of the Magat Multi-Purpose ProjectLetter of Instructions No. 1064 • Sep 3, 1980 • Presidential Issuances
- Construction of the Magat River Multi-Purpose Project in IsabelaPresidential Decree No. 693 • May 7, 1975 • Presidential Issuances
- Release of Additional Funds for Magat Dam and Appurtenant FacilitiesLetter of Instructions No. 1203 • Mar 1, 1982 • Presidential Issuances
- Transfer of Responsibility for Construction and Development of Power Phase of Magat Project to NPCLetter of Instructions No. 660 • Jan 23, 1978 • Presidential Issuances
Browse More Presidential Issuances
Explore other laws in the Presidential Issuances category.
View All Presidential IssuancesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law