Submittal of Reports to NEDA by Gov't. Offices Receiving, Programming or Providing Gov't. Subsidy

August 13, 1975

LETTER OF INSTRUCTIONS NO. 305

 

WHEREAS, the National Economic and Development Authority Board, the highest economic policy-making body of the country, must regularly be informed on the different subsidy programs of the government with respect to the resource needs, the effectiveness, and the duration of these programs; cd i

WHEREAS, the cooperation of all concerned agencies is imperative in order to obtain data for effective and rational policy formulation on government subsidies;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby give the following instructions:

(1) All government offices and government-owned or controlled corporations receiving, programming and/or providing government subsidy in any amount or form and for whatever purpose, shall submit to the National Economic and Development Authority, within sixty (60) days after the end of each fiscal year, including FY-1975, a status and evaluation report and all data needed and relevant thereto on any government subsidy received, programmed and/or provided by them. Special interim reports shall also be submitted whenever requested by the NEDA. aisa dc

(2) Government subsidy shall include price support schemes for specific commodities; aids or grants; interest foregone from expansion of loans, advances or discounts at preferred (to be specified) rates of interest; interest paid or to be paid on borrowings in excess of normal (to be specified) rates of interest; and tax and tariff exemptions and rebates, as well as direct government outlays.

(3) The National Economic and Development Authority shall, in consultation with the concerned agencies, prepare the rules necessary for the implementation of this Letter of Instruction within sixty (60) days after issuance hereof.

DONE in the City of Manila, this 13th day of August, in the year of Our Lord, Nineteen Hundred and Seventy-Five.