LETTER OF INSTRUCTION NO. 499, January 26, 1977

[ LETTER OF INSTRUCTION NO. 499, January 26, 1977 ]

TO: The Secretary of Trade The Governor, Central Bank of the Philippines The Chairman, Philippine Export Council The Secretary of Tourism The President, Philippine National Bank The Director-General, National Economic and

Development Authority

The Governor, Board of Investments The Chairman, Development Bank of the Philippines The General Manager, Government Service Insurance

System

The Chairman, National Science Development Board The Chairman, Social Security System The Chairman, Philippine International Trading

Corporation

Pursuant to Presidential Decree No. 1075 dated January 26, 1977, and in order to implement the provisions of Section 4 of the same Decree, the following agencies and instrumentalities shall appropriate out of their budgets contributions to a fund campaign to support the export development drive to Japan launched through major Philippine participation at the 12th Tokyo International Trade Fair, listed hereunder:

1. Department of Trade P250,000

2. Central Bank of the Philippines 250,000

3. Philippine Export Council 250,000

4. Philippine National Bank 250,000

5. Department of Tourism 185,000

6. National Economic and Development Authority

92,500

7. Board of Investments 92,500

8. Development Bank of the Philippines 90,000

9. Government Service Insurance System 90,000

10. National Science Development Board 90,000

11. Social Security System 90,000

12. Philippine International Trading Corporation 90,000

_________

Total P1,820,000

All abovementioned Government agencies are hereby directed to remit abovementioned amounts to the Confederation of Philippine Exporters, Inc., a corporate body authorized to accept contributions and donations from both the Government sector and the private sector and to implement the total program authorized herein as provided for by Presidential Decree No. 865: Provided, however, That all funds that shall be committed and expended shall be subject to audit by the Commission on Audit.

Done in the City of Manila, this 26th day of January, in the year of Our Lord, nineteen hundred and seventy-seven.

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