Financing Scheme For Funding the EPZA Housing Development Project
Letter of Instructions No. 70, issued on April 2, 1973, directs the Export Processing Zone Authority (EPZA) and relevant government agencies to expedite the development of housing facilities within the Export Processing Zone. The National Government is authorized to lend P20 million to the EPZA, funded through the sale of 5-year Treasury Notes to the Government Service Insurance System (GSIS) and Social Security System (SSS). This financing scheme aims to facilitate the timely initiation and completion of the housing project. Necessary actions are mandated to ensure the project's swift implementation.
Law Information
- Reference Number
- Letter of Instructions No. 70
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
April 2, 1973
LETTER OF INSTRUCTIONS NO. 70
| TO | : | The Acting Chairman-Administrator |
| Export Processing Zone Authority | ||
| The Secretary of Finance | ||
| The General Manager | ||
| Government Service Insurance System | ||
| The Administrator | ||
| Social Security System |
In view of the need to accelerate the development of the Export Processing Zone and in order to provide needed housing facilities therein, the Investment Coordination Committee and the National Economic and Development Authority have recommended the financing scheme for funding a housing development project of the Export Processing Zone Authority in which the National Government shall lend to the EPZA P20 million to be generated from the sale of a 5-year, 10-3/4 Treasury Notes to the GSIS and SSS, which I hereby approved. casia
Necessary steps should now, therefore, be taken to implement the said financing scheme in order that the EPZA housing project may be started and completed in the shortest possible time.
DONE in the City of Manila, this 2nd day of April, in the year of Our Lord, Nineteen Hundred and Seventy-Three.
Cite This Law
Financing Scheme For Funding the EPZA Housing Development Project, Letter of Instructions No. 70, Apr 2, 1973 (Philippines)
Financing Scheme For Funding the EPZA Housing Development Project, Letter of Instructions No. 70 (Phil. 1973)
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