Letter of Instructions No. 361, issued on January 9, 1976, directs the immediate release of P28 million from a Special Fund to the Philippine National Oil Company (PNOC) for enhancing the country's transport capabilities. The funds are designated for the purchase and construction of three self-propelled barges, each with a capacity of 15,000 barrels, as well as for the importation of necessary equipment and materials. PNOC is required to provide a financial accounting to the President upon completion of the barges. This initiative is part of the government's broader transport development program.
January 9, 1976
LETTER OF INSTRUCTIONS NO. 361
| TO | : | The Commissioner of the Budget |
| The Treasurer of the Philippines | ||
| The President of the Philippine National Oil Company |
In line with the program of the Government to develop the country's transport capability, you are hereby directed to release immediately to the Philippine National Oil Company the amount of P28 Million from the Special Fund created under Section 7(j) of Republic Act No. 6173, as amended. The foregoing amount shall be utilized by PNOC to pay for the purchase and construction of three (3) self-propelled barges with a capacity of 15,000 barrels each and/or the importation of equipment, materials and machinery for said barges. The PNOC shall, upon completion of the construction of said barges, render an accounting to the President on all disbursements of the funds released herewith.
DONE in the City of Manila, this 9th day of January, in the year of Our Lord, Nineteen Hundred and Seventy-Six.