LETTER OF INSTRUCTIONS NO. 918, August 23, 1979

[ LETTER OF INSTRUCTIONS NO. 918, August 23, 1979 ]

TO: The Minister of Econonic planning National Economic and Development Authority

In view of the problems related to inflation and energy crisis and following the price, income, and wage adjustments, the National Economic and Development Authority (NEDA) and the offices represented in its Board, specifically the following officials:

The Minister of Finance The Minister of Industry The Minister of Agriculture The Minister of Natural Resources The Minister of Trade The Minister of Labor and The Governor of the Central Bank

are directed to:

Reexamine our development policies in order to provide flexibility; to encourage more employment; and to promote productivity;

Prepare programs that would accelerate the production of essential commodities and services in order to stabilize prices and supplies of these commodities; and

Align credit, investment, tariff, and other policies in order to support industries that expand employment, supplies of basic and essential commodities, output of small-and medium-scale enterprises, and export earnings, especially among labor-intensive enterprises.

All ministries and agencies of the government are directed to assist the NEDA in undertaking this program.

The Minister of Economic Planning and the NEDA will act as coordinator of this undertaking.

Done in the City of Manila, this 23rd day of August, in the year of Our Lord, nineteen hundred and seventy-nine.

(Sgd.) FERDINAND E. MARCOS President of the Philippines