Release of Funds to PNOC to Finance Its Activities and Programs
Letter of Instructions No. 392, issued on April 8, 1976, directs the release of PHP 15,000,000 from a Special Fund to the Philippine National Oil Company (PNOC). This funding supports government programs aimed at assisting key economic sectors with petroleum purchases, promoting energy conservation, and providing scholarship assistance to deserving Filipino Muslim students in the Middle East. The PNOC is required to provide periodic accounting of the disbursements to the President. The directive underscores the government's commitment to energy initiatives and educational support.
Law Information
- Reference Number
- Letter of Instructions No. 392
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
April 8, 1976
LETTER OF INSTRUCTIONS NO. 392
| TO | : | The Commissioner of the Budget |
| The Treasurer of the Philippines | ||
| The Chairman of the Philippine National Oil Company |
In accordance with Government directives the Philippine National Oil Company has been undertaking or coordinating Government programs relating to: (1) special projects designed to assist vital sectors of the economy in connection with their purchase of petroleum products; (2) measures, programs and campaigns concerning the Energy Conservation Program of the Government; and (3) scholarship assistance to deserving Filipino Muslim students in the Middle East. To finance these activities, it is hereby directed that the sum of P15,000,000.00 from the Special Fund created under Section 7(j) of Republic Act No. 6173 as amended be released to the Philippine National Oil Company immediately. The Philippine National Oil Company shall, from time to time and as required by the President, render an accounting to the President of all disbursements of the foregoing amount.
DONE in the City of Manila, this 8th day of April, in the year of Our Lord, Nineteen Hundred and Seventy-Six. cd
Cite This Law
Release of Funds to PNOC to Finance Its Activities and Programs, Letter of Instructions No. 392, Apr 8, 1976 (Philippines)
Release of Funds to PNOC to Finance Its Activities and Programs, Letter of Instructions No. 392 (Phil. 1976)
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