WHEREAS, there is an urgency in the implementation of the projects being undertaken by the National Power Corporation;

WHEREAS, in view of said urgency, there is a need to authorize the Governing Board of the National Power Corporation to enter into negotiated contracts, beyond the present ceilings for infrastructure projects;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by law, do hereby authorize the Governing Board of the National Power Corporation to enter into negotiated contracts for infrastructure projects not exceeding five hundred million pesos (P500 Million); Provided, That said contracts shall only be awarded in strict compliance with Section 5 of Executive Order No. 164, S. of 1987.

Negotiated contracts involving more than P500 Million shall only be entered into upon prior authority from the Office of the President.

This Executive Order shall take effect immediately.

DONE in the City of Manila, this 27th day of November, in the year of Our Lord, nineteen hundred and eighty-nine.


By the President:

(Sgd.) CATALINO MACARAIG, JR.
Executive Secretary