Release of Funds to PNOC for Purchase and Construction of Self-Propelled Barges ( Letter of Instructions No. 361 )
January 09, 1976
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.