LETTER OF INSTRUCTION NO. 70, April 02, 1973

[ LETTER OF INSTRUCTION NO. 70, April 02, 1973 ]

TO : The Acting Chairman-Administrator

Export Processing Zone Authority

The Secretary of Finance The General Manager

Government Service Insurance System

The Administrator

Social Security System

In view of the need to accelerate the development of the Export Processing Zone and in order to provide needed housing facilities therein, the Investment Coordination Committee and the National Economic and Development Authority have recommended the financing scheme for funding a housing development project of the Export Processing Zone Authority in which the National Government shall lend to the EPZA P20 million to be generated from the sale of a 5-year, 10-3/4 Treasury Notes to the GSIS and SSS; which I hereby approved.

Necessary steps should now, therefore, be taken to implement the said financing scheme in order that the EPZA housing project may be started and completed in tho shortest possible time.

Done in the City of Manila, this 2nd day of April, in the year of Our Lord, nineteen hundred and seventy-three.

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