WHEREAS, the National Economic and Development Authority (NEDA) is mandated to coordinate and integrate foreign assistance program pursuant to Presidential Decree No. 1 as amended; and

WHEREAS, under Presidential Decree No. 1416 as amended, the President is empowered to undertake such organizational and related improvements as may be appropriate in the light of changing circumstances and riew developments;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and the authority vested in me by Presidential Decree No. 1416 as amended, do hereby direct the following:

1. The Management Advisory Committee (MAC) created under Section 3 of Letter of Instructions No. 1030 dated May 27, 1980 is hereby reconstituted and renamed the Economic Support Fund (ESF) Council to be headed by the President and the Prime Minister in their capacities as Chairman and Vice-Chairman, respectively, of the National Economic and Development Authority with the Ministers of Human Settlements, Finance, National Defense, Trade and Industry, Agriculture and Food, Public Works and Highways, Education, Culture and Sports, the Budget, and Economic Planning; as members.
   
   
2. The ESF Council shall have the same functions and powers of the MAC as provided for under LOI No. 1030.
   
   
3. The Secretariat of the Management Advisory Committee (MAC) otherwise known as the Development Projects  Support Fund Secretariat and created for the purpose of providing technical support to the MAC, is transferred to the NEDA together with all its appropriations/funds, records, equipment, property and such qualified personnel as may be necessary.  The NEDA Director-General is hereby authorized to issue such implementing rules and regulatons as may be necessary to implement the provisions of this Section

DONE in the City of Manila, this 18th day of October, in the year of Our Lord, nineteen hundred and eighty-four.