April 11, 1977

TO:     Development Authority   Chairman, National Development Company

WHEREAS, there is now available to the Philippine Government foreign loans including local appropriations for the shipbuilding industry  development program;

WHEREAS, the private sector is just awaiting a definite program on shipbuilding including financial assistance scheme from the Government;

WHEREAS, the shipbuilding industry has built up the necessary shipbuilding capabilities including facilities, technical and  manpower resources base; and

WHEREAS, there are several government agencies involved in the formulation and implementation of the shipbuilding program.

WHEREFORE, you are hereby directed to constitute yourselves into an ad hoc committee with the Administrator of MARINA as Chairman to formulate an integrated shipbuilding industry development program for the immediate utilization of available funds or loans for shipbuilding purposes under such liberal terms and conditions as would stimulate and be consistent with the long-range development of the industry.

You are further directed to submit such program on or before May 15, 1977.