Release of Funds To Finance the Investments for Alcohol Storage and Blending Facilities
Letter of Instructions No. 983, issued on February 1, 1980, mandates the acceleration of the production of Alcogas in the Philippines to reduce reliance on imported energy sources. The Philippine Sugar Commission has contracted with Victorias Milling Company to utilize their distillery for alcohol production, necessitating the installation of a dehydration facility and additional investments for storage and blending. The Treasurer of the Philippines is instructed to allocate P10 million from a special fund to finance these facilities. The Philippine National Oil Company is required to report back to the President on the use of these funds. This directive is effective immediately.
Law Information
- Reference Number
- Letter of Instructions No. 983
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 1, 1980
LETTER OF INSTRUCTIONS NO. 983
| TO | : | The Minister of Energy |
| The Minister of the Budget | ||
| The Treasurer of the Philippines | ||
| The Chairman, Philippine National Oil Co. |
In line with our country's program to develop our indigenous energy resources in order to lessen our dependence on imported sources of energy, I have directed the acceleration of our program to produce Alcogas to displace current premium motor fuel utilization. Pursuant to said directive, the Philippine Sugar Commission has entered into a lease contract with Victorias Milling Company for the use of their distillery in the production of alcohol for blending into Alcogas.
Because existing distilleries are geared only towards producing hydrous alcohol, which is incompatible for blending with gasoline, there is need to install a dehydration facility in Victorias to further process alcohol to the desired quality. Additionally, further investments would be required for alcohol storage and blending facilities.
In view of the foregoing, the Treasurer of the Philippines is hereby directed to release to the Philippine National Oil Company, the amount of P10.0 million out of the Special Fund created pursuant to Section 8 (j) of Republic Act No. 6173, as amended, to finance the investment requirements of the aforecited facilities.
The Philippine National Oil Company is hereby directed to submit to the President, a report accounting for the disbursement and utilization of the foregoing funds.
This Letter of Instruction shall take effect immediately.
DONE in the City of Manila, this 1st day of February, in the year of Our Lord, Nineteen Hundred and Eighty. cd
Cite This Law
Release of Funds To Finance the Investments for Alcohol Storage and Blending Facilities, Letter of Instructions No. 983, Feb 1, 1980 (Philippines)
Release of Funds To Finance the Investments for Alcohol Storage and Blending Facilities, Letter of Instructions No. 983 (Phil. 1980)
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