MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 1382
CREATING A CONSULTING GROUP IN THE OFFICE OF THE SECRETARY OF FINANCE AND APPROPRIATE FUNDS THEREFOR.
WHEREAS, The Secretary of Finance has key involvement as Representative of the Republic of the Philippines in international financial institutions like the International Monetary Fund, World Bank, Asian Development Bank, and other international bodies.
WHEREAS, in facing the many financial problems of development, the Philippines will require external financing for some time to come, and solutions would hinge on the cooperative efforts that the financial authorities, led by the Secretary of Finance, will exert to develop and enhance the credit worthiness of the country;
WHEREAS, in order to meet the requirements of international lending institutions in contemplated loan negotiations to be undertaken by the Secretary of Finance, it is important to determine and identify some of the problems of government and government-controlled corporations which may from time to time be in need of financial assistance so they can be systematically integrated into the overall framework of the...
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Presidential Decrees
Creating A Consulting Group In The Office Of The Secretary Of Finance And Appropriate Funds Therefor.
Presidential Decree No. 1382
Summary of Presidential Decree No. 1382
Creation of a Consulting Group in the Office of the Secretary of Finance
- Created a Consulting Group in the Department of Finance (Section 1)
- Functions of the Consulting Group (Section 1):
1. Assist or represent the Secretary of Finance in international bodies like IMF, World Bank, ADB, UNCTAD, and others. (Section 1.1)
2. Look into the financial operations of government and government-controlled corporations in need of financial assistance. (Section 1.2)
3. Formulate and recommend international financial policies with significance to the economy. (Section 1.3)
4. Conduct research on policies and programs regarding bilateral and unilateral development assistance. (Section 1.4)
5. Perform other special functions assigned by the Secretary of Finance. (Section 1.5)
Composition and Compensation (Section 2)
- Composed of highly trained technical specialists with experience in international finance and financial operations of government entities.
- Hired by the Secretary of Finance on a contractual basis.
- Exempt from Civil Service Law, rules, regulations, and OCPC requirements.
Consultants and Experts (Section 3)
- Secretary of Finance can create positions, hire individuals, or contract with organizations in development finance.
- Contracts for experts or consultants shall not exceed ₱4,000 per month.
Transportation and Representation Allowances (Section 4)
- Consultants, specialists, and technical personnel shall be granted commutable transportation and representation allowances at rates fixed by the Secretary of Finance.
Relationship with Other Entities (Section 5)
- The Consulting Group shall cooperate and coordinate with government, private entities, and international organizations related to its functions.
Appropriations (Section 6)
- ₱900,000 appropriated from the National Treasury for the operation of the Consulting Group.
- The same amount or as needed shall be included in the Annual General Appropriations Decree for continued operation.
Repealing Clause (Section 7)
- Any provision contrary to or inconsistent with this Decree is repealed, revised, or amended accordingly.
Effectivity (Section 8)
- This Decree shall take effect immediately.
Creation of a Consulting Group in the Office of the Secretary of Finance
- Created a Consulting Group in the Department of Finance (Section 1)
- Functions of the Consulting Group (Section 1):
1. Assist or represent the Secretary of Finance in international bodies like IMF, World Bank, ADB, UNCTAD, and others. (Section 1.1)
2. Look into the financial operations of government and government-controlled corporations in need of financial assistance. (Section 1.2)
3. Formulate and recommend international financial policies with significance to the economy. (Section 1.3)
4. Conduct research on policies and programs regarding bilateral and unilateral development assistance. (Section 1.4)
5. Perform other special functions assigned by the Secretary of Finance. (Section 1.5)
Composition and Compensation (Section 2)
- Composed of highly trained technical specialists with experience in international finance and financial operations of government entities.
- Hired by the Secretary of Finance on a contractual basis.
- Exempt from Civil Service Law, rules, regulations, and OCPC requirements.
Consultants and Experts (Section 3)
- Secretary of Finance can create positions, hire individuals, or contract with organizations in development finance.
- Contracts for experts or consultants shall not exceed ₱4,000 per month.
Transportation and Representation Allowances (Section 4)
- Consultants, specialists, and technical personnel shall be granted commutable transportation and representation allowances at rates fixed by the Secretary of Finance.
Relationship with Other Entities (Section 5)
- The Consulting Group shall cooperate and coordinate with government, private entities, and international organizations related to its functions.
Appropriations (Section 6)
- ₱900,000 appropriated from the National Treasury for the operation of the Consulting Group.
- The same amount or as needed shall be included in the Annual General Appropriations Decree for continued operation.
Repealing Clause (Section 7)
- Any provision contrary to or inconsistent with this Decree is repealed, revised, or amended accordingly.
Effectivity (Section 8)
- This Decree shall take effect immediately.