Letter of Instructions No. 1346

 

 

TO

:

The Minister of Energy

 

 

The Minister of the Budget

 

 

The Treasurer of the Philippines

 

The latest review by the Ministries of Energy and Finance showed that the present amount of P 8,825 million previously set aside from the Consumer Price Equalization Fund pursuant to existing Letters of Instructions is about to be fully utilized.  It is therefore insufficient to meet current claims based on earlier BOE orders plus the additional claims of oil companies for crude-related cost reimbursements pursuant to the April 22, 1983 BOE Resolutions No. 83-05 and 83-06.

 

In order, therefore, to enable the Ministry of Energy to continue the aforementioned reimbursement scheme in accordance with applicable Board of Energy Orders, the additional amount of P 2 billion is hereby set aside from the existing Consumer Price Equalization Fund.

 

The Ministry of Energy is hereby directed to submit to me periodic reports on reimbursement certificates actually issued to oil companies for crude reimbursements incurred.

 

This Letter of Instructions shall take effect immediately.

 

Done in the City of Manila this 22nd day of July in the year of our Lord nineteen hundred and eighty three.

 

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Last revised:  February 27, 2016 02:40 AM.

 

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