Letter of Instructions No. 1201
The Treasurer of the Philippines
The President, National Power Corporation
The major thrust of the country’s energy development program has been to
accelerate the development of indigenous energy resources in order to displace
fuel oil usage and lessen our dependence on imported oil. One of the major
implementing arms of this policy has been the
National Power Corporation (NPC)
whose power expansion program has been successful in lessening the share of
oil-based power plants in power generation from 80% in 1977 to only 59% in
1981. In order to allow NPC to maintain the momentum of its program and to
ensure that it meets the target of its power expansion program, which has been
favorably passed upon and approved by the Cabinet, it is imperative that
adequate funding support be given. Therefore the
Treasurer of the Philippines
is hereby directed to release to NPC out of the Special Fund created under
Section 8 (j) of R.A. 6173, as amended, the amount of P 585,000,000.
The NPC is also directed to submit to the President of the Philippines through
the Minister of Energy a report accounting for the disbursement and use of the
foregoing amount.
This Letter of Instruction takes effect immediately.
Done in the City of Manila, this 1st day of March in the year of Our Lord, nineteen hundred and eighty-two.
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