Reorganizing The Investments Coordination Committee and Instituting a Mechanism for the Reorganization of All Committees Attached to The National Economic and Development Authority; Amendin
Download as PDF
Download as Word
Collections
Create new Collection
Overview
Full Text
Details
Case
Agency Issuance Number
Published Date
Reorganizing The Investments Coordination Committee and Instituting a Mechanism for the Reorganization of All Committees Attached to The National Economic and Development Authority; Amendin
Presidential Decree No. 1450
June 11, 1978
Case Overview and Summary
Summary of Presidential Decree No. 1450Reorganization of the Investment Coordination Committee (ICC):
- Amends Article 5, Chapter 1, Part 6 of the Integrated Reorganization Plan. (Section 1)
- Composition of the ICC:
- Chairman: Secretary of the Department of Finance
- Co-Chairman: Director-General of the National Economic and Development Authority (NEDA)
- Vice-Chairman: Chairman of the Board of Investments
- Members: Governor of the Central Bank of the Philippines, Chairman of the Development Bank of the Philippines, President of the Philippine National Bank, President of the Land Bank of the Philippines, President of the Philippine Amanah Bank, President and General Manager of the Government Service Insurance System, Administrator of the Social Security System, and Commissioner of the Budget Commission. (Section 1)
Additional Functions of the ICC:
- Evaluate the fiscal, monetary, and balance of payments implications of major national projects and recommend to the President the timetable for implementation, particularly those requiring foreign financing assistance. Factors to consider include: (Section 2d)
1. Priority rating of the project within the national development plan.
2. Peso requirements of the project in terms of current and capital outlays needing peso support from the national government and government financial institutions.
3. Sources of funds.
4. Terms and conditions of the proposed financing.
5. Impact of the proposed project on domestic and foreign debt ceilings.
6. Effects on the international balance of payments position.
- Conduct hearings and evaluate major project proposals of government departments, agencies, government-owned or controlled corporations, and private enterprises. (Section 2e)
- Prepare a domestic and foreign borrowing program updated each year, and submit to the President a status of the fiscal, monetary, and balance of payments implications of major national projects. (Section 2f)
Reorganization of Committees Attached to NEDA:
- Committees attached to NEDA may be reorganized upon the recommendation of the NEDA Director-General to the President, with the President's approval being sufficient for implementation. (Section 3)
- These committees have the authority to issue rules and regulations to govern their procedures and operations. (Section 3)
Abolition of the Committee on Foreign Assisted Projects:
- The Committee on Foreign Assisted Projects created under Letter of Instructions No. 592 is abolished, and its records, funds, assets, and liabilities are transferred to the ICC. (Section 4)
Repealing Clause and Effectivity:
- All laws, decrees, instructions, orders, rules, or regulations inconsistent with this Decree are repealed or modified accordingly. (Section 5)
- This Decree takes effect immediately. (Section 6)
Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
Investment Coordination Committee
National Economic and Development Authority
government financial institutions
investment policies
major national projects
foreign financing assistance
fiscal implications
monetary implications
balance of payments implications
project evaluation
borrowing program
reorganization of committees
Law
Reorganizing The Investments Coordination Committee and Instituting a Mechanism for the Reorganization of All Committees Attached to The National Economic and Development Authority; Amendin
Presidential Decree No. 1450
•June 11, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1450
REORGANIZING THE INVESTMENTS COORDINATION COMMITTEE AND INSTITUTING A MECHANISM FOR THE REORGANIZATION OF ALL COMMITTEES ATTACHED TO THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY; AMENDING FOR THIS PURPOSE ARTICLE FIVE, CHAPTER ONE, PART SIX OF THE INTEGRATED REORGANIZATION PLAN
WHEREAS, the formulation and coordination of the investment policies of government financial institutions should be closely linked with financial planning for major national projects so as to secure the optimum use of resources available from such institutions as well as those available from the national government and foreign sources within the context of approval development plans and programs;
WHEREAS, there is a need to evaluate the fiscal monetary and balance of payments implications of major national projects and recommend to the President the timetable of the implementation of these projects on a regular basis, particularly those that require foreign financing assistance;
WHEREAS, there is a need to streamline and coordinate the existing organizational mechanisms for the performance of all these tasks in order to avoid unnecessary duplication...
Login to see full content
Amends
n/a
Amended by
n/a