TO:	The Minister of Energy The Minister of the Budget The Treasurer of the Philippines The Chairman, National Irrigation Administration

An intear-agency study on the Magat Multi-Purpose Project by the Ministries of Energy, finance, Budget and Public Works has determined that the budgetary appropriation for 1980 for said project  inclusive of the amounts released under LOI No. 923 will be inadequate to cover the peso counterpart requirements.  Since any delay in this project would have a significant impact on the  country's irrigation and energy programs, an additional budgetary release of P150,000,000 to the National Irrigation Administration (NIA) is required to ensure  that this project proceeds on schedule.   Therefore, the Treasurer of the Philippines is hereby directed to release to NIA out of the Special Fund created under Section 8 (j) of R.A. 6173 as amended, the amount of P150,000,000 on or before September 15, 1980.

The NIA is also directed to submit to the President of the Philippines through the Minister of Energy a report accounting for the disbursement and use of the  foregoing amount.

This Letter of Instruction takes effect immediately.

Done in the City of Manila, this 3rd day of September, in the year of Our Lord, Nineteen Hundred and Eighty.