Pursuant to the provision of Presidential Decree No. 1416 empowering the President to undertake such organizational and related developments as may be appropriate in the light of changing circumstances and new developments, the following instructions are hereby given pertaining to the utilization of the Economic Support Fund.

1. The Management Advisory Committee (MAC) created under Section 3 of LOI No. 1030 dated May 27, 1980 is renamed the Economic Support Fund (ESF) Council with the MHS and NEDA as  Chairman  and Vice-Chairman respectively.  The Ministers (or their duly authorized representatives) of the following Ministries/Offices shall serve as members of the Council:  Finance, National Defense, Local Government, Trade and Industry, Agriculture and Food, Public Works and Highways, Education, Culture and Sports, Budget and Management and Presidential Assistant for Legal Affairs.
   
   
2. The ESF Council shall be placed under the Office of the President and shall have the same functions and powers of the MAC as provided for under LOI NO. 1030, as amended.
   
   
3. The Secretariat of the Management Advisory Committee (MAC) otherwise known as the Development Projects Fund  Secretariat and created for the purpose of providing technical support to the MAC is hereby renamed Economic Fund Secretariat, and shall report directly to the  Council.  The Secretariat, shall have authority to implement the policy declaration and pronouncements of the Council.
   
   
4. The Secretariat shall be headed by an Executive Director who shall be appointed by the President.   The Executive Director shall be Chief Operating Officer of the Secretariat and shall have the following powers and responsibilities.
   
   

   a)	Upon clearance with the President and the Council issue rules and regulations as may be necessary to implement the provisions of this LOl.
   b)	Reorganize the Secretariat directly under the ESF Council as a critical technical support staff of the Council and establish such working relationship with the National Economic and Development Authority and the Office of the Philippine Ambassador to the United States for purposes Of coordinating and integrating U.S. foreign assistance program.
   c)	Approve the organizational and staffing stricture and appoint the personnel of the Secretariat subject to confirmation of the Council.
   d)	Submit for the review and approval of the ESF Council program plans for the utilization of ESF allocations.
   e)	Undertake and conduct economic and financial studies for the effective and expanded utilization of the ESF to support priority basic needs programs and projects of the government.
   f)	Report directly to the Chairman of the Council and/or the President on all ESF matters requiring immediate action.

Done in the City of Manila, this 26th day of October in the year of Our Lord, nineteen hundred and eighty-four.