Transfer to the General Fund of All Existing Balances, etc. of the Consumer Price Equalization Fund
On March 29, 1984, President Ferdinand E. Marcos issued Letter of Instructions No. 1394, directing the transfer of all existing balances and future payments from the Consumer Price Equalization Fund to the General Fund. This decision followed the dismantling of the Consumer Price Equalization mechanism in June 1983, which left the fund with a balance of P44.6 million and receivables of P131.7 million from oil companies. The instruction emphasizes the consolidation of funds under the government's control.
Law Information
- Reference Number
- Letter of Instructions No. 1394
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 29, 1984
LETTER OF INSTRUCTIONS NO. 1394
| TO | : | The Minister of Energy |
| The Minister of Budget | ||
| The Chairman, Board of Energy |
WHEREAS, on June 21, 1983, through LOI No. 1335, the Consumer Price Equalization mechanism was dismantled;
WHEREAS, the Consumer Price Equalization Fund, after settling all accounts, has a fund balance of P44.6 million and receivables due from the oil companies amounting to P131.7 million as of January 31, 1984;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby order and instruct that all balances presently existing in, as well as all amounts that may in the future be paid to, the Consumer Price Equalization Fund be transferred to, and made a part of the General Fund.
DONE in the City of Manila, this 29th day of March, 1984.
Cite This Law
Transfer to the General Fund of All Existing Balances, etc. of the Consumer Price Equalization Fund, Letter of Instructions No. 1394, Mar 29, 1984 (Philippines)
Transfer to the General Fund of All Existing Balances, etc. of the Consumer Price Equalization Fund, Letter of Instructions No. 1394 (Phil. 1984)
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