WHEREAS, there is a need to link certain regulatory functions with the requirements of development, especially as these pertain to the establishment of reasonable levels of wages as well as of the prices of essential consumer commodities, including oil products;

WHEREAS, the National Economic Development Authority, hereinafter referred to as the NEDA, being the highest development planning body of the country, is the logical focal point for securing the desired linkage that will give development orientation in the perforrn-ance of the above-mentioned regulatory functions; and

WHEREAS, to attain this objective, it is necessary to place the agencies concerned with these regulatory functions under the administrative supervision of the NEDA;

NOW, THEREFORE, I, FERDINAND E. MARCOS, Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and Central Order No. 1, dated September 22, 1972, as amended, in order to effect the desired changes and reforms in the social, economic and political structure of the country, do hereby order and decree that modifications of pertinent Parts of the Integrated Reorganization Plan are hereby adopted and approved, as follows:

1. The Oil Industry Commission and the Price Control Council are transferred from the Office of the President and placed under the administrative supervision of the NEDA.
2. The Wage Commission is transferred from the Department of Labor and placed under the administrative supervision of the NEDA.

Done in the City of Manila this 17th day of November, in the year of Our Lord, nineteen hundred and seventy-two.

			(Sgd.) FERDINAND E. MARCOS President Republic of the Philippines
	By the President:
	(Sgd.) ALEJANDRO MELCHOR
		Executive Secretary