Monitoring, Audit, and Verification of Payments To and Disbursement from the Special Fund Under R.A. No. 6173

March 31, 1979

LETTER OF INSTRUCTIONS NO. 838

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 Section 8 (J) of Republic Act No. 6173, as amended.

2. The Ministry of Energy shall render periodic reports to me on the foregoing. cdt

DONE in the City of Manila, this 31st day of March, in the year of Our Lord, Nineteen Hundred and Seventy-Nine.