Lending to BASECO Funds from the National Development Company Special Shipping Funds
Letter of Instructions No. 293-A from 1975 addresses the National Development Company regarding contracts with Bataan Shipyards and Engineering Company (BASECO) for constructing patrol boats essential for the Armed Forces of the Philippines' defense program. The document also highlights the need for BASECO to build smaller patrol boats under confidential conditions and to repair various Bureau of Public Works vessels. To support these initiatives, it recommends considering the feasibility of lending funds from a special shipping fund to upgrade BASECO’s facilities, in accordance with Republic Act 1407, aimed at promoting the ship-building industry.
Law Information
- Reference Number
- Letter of Instructions No. 293-A
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
1975
LETTER OF INSTRUCTIONS NO. 293-A
| TO | : | The Chairman and Members of the Board |
| National Development Company |
The Philippine Navy has entered into contracts with the Bataan Shipyards and Engineering Company (BASECO) for the construction of 145-footer and 120-footer patrol boats necessary for the self-reliant defense program of the Armed Forces of the Philippines.
At the same time it is envisioned that BASECO will be utilized in the construction of small patrol boats under secret and confidential conditions.
The facilities of the BASECO are likewise needed in the repair of dredgers, tugboats, pile drivers and barges of the Bureau of Public Works.
In view of these it is necessary to upgrade the facilities of the BASECO.
You will, therefore, consider the feasibility of lending to BASECO funds from the special shipping fund, which has been placed under your disposal, and in accordance with Republic Act 1407, as amended, to provide incentives and encouragement to the ship-building industry.
Cite This Law
Lending to BASECO Funds from the National Development Company Special Shipping Funds, Letter of Instructions No. 293-A (Philippines)
Lending to BASECO Funds from the National Development Company Special Shipping Funds, Letter of Instructions No. 293-A (Phil. )
Related Laws
- Transfer of Shipbuilding Equipment Procured by BASECO to the NDCLetter of Instructions No. 670 • Feb 14, 1978 • Presidential Issuances
- Authority of Central Bank To Engage in Special Borrowing and Lending OperationsPresidential Decree No. 1309 • Mar 3, 1978 • Presidential Issuances
- Revised Charter of the National Development CompanyPresidential Decree No. 1846 • Jun 26, 1982 • Presidential Issuances
- Increasing the Capitalization of the National Development CompanyPresidential Decree No. 1169 • Jul 11, 1977 • Presidential Issuances
- Revised Charter of the National Development CompanyPresidential Decree No. 1648 • Oct 25, 1979 • Presidential Issuances
- Release of Manuel A. Roxas FundsMemorandum from the Senior Deputy Executive Secretary • Jun 15, 2001 • 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