WHEREAS, the National Government of the Republic of the Philippines and the National Power Corporation (NPC) are the registered owners of parcels of land located in Makati consisting of 121,730 square meters covered by TCT Nos. 458364, 458365, 458366 and 458367 issued by the Registry of Deeds of Rizal (hereinafter referred to as œproperty );

WHEREAS, the National Government together with the NPC executed a Lease Contract in January 1977 with the then Technological Resource Center Foundation, Inc. (TRCFI), now Philippine Development Alternatives Foundation, Inc. (PDAF), for a consideration of P1.00/sq.m./year for a period of twenty-five (25) years ending on December 31, 2002;

WHEREAS, the property was later determined to be a surrendered asset of the Presidential Commission on Good Government (PCGG) and government representation in the Board of Trustees of PDAF has been exercised by nominees of the PCGG;

WHEREAS, there has been a merger and recovery of all rights in the property to the National Government and the NPC, to which the aforesaid parties shall exercise full right of ownership, control, administration and supervision;

WHEREAS, there is a strong need to rationalize and coordinate the turnover of the control, management, administration and supervision of the PDAF to the aforesaid governmental entities to exercise full ownership over the property;

NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby order the following:

SECTION 1. There is hereby created an Inter-Agency Committee composed of the following:

Chairman	Executive Secretary
Members	The President, National Power Corporation
	The General Manager, Public Estates Authority
	The Solicitor General
	The Government Corporate Counsel

SEC. 2. The Inter-Agency Committee (IAC) shall:

(a) exercise all powers granted to it under this Order to achieve the objectives enumerated beforehand including but not limited to the identification and designation of the nature and extent of said control, administration and supervisorial powers over the PDAF as a surrendered asset;

(b) formulate rules, procedures and guidelines necessary for the immediate turnover of the property to the National Government and the NPC;

(c) coordinate with the Commission on Audit (COA) in the formation of an Auditing Task Force (ATF), which shall undertake the necessary investigation, inventory and audit of the assets of the PDAF; pursuant thereto, the IAC is hereby authorized to secure, acquire and cause the necessary submission of all documents, papers, financial records, official reports and communications of the PDAF and to acquaint itself on the management activities undertaken by the Board of Trustees of the PDAF;

(d) identify, determine and designate particular areas of the property which remain undeveloped and disposable and which may be subjected to economically viable projects as determined by the Committee; further, the IAC, with the approval of the President, may immediately undertake and implement joint venture projects agreed upon by the National Government and the NPC to make the idle portions of the property productive; provided, finally, that all proposed projects to be undertaken by the IAC shall comply with the existing laws, rules and regulations governing the use of public property;

(e) represent the National Government and/or the NPC in all matters affecting the property, particularly its developed portion, to ensure the protection of whatever rights the present occupants have over the land in order to achieve a feasible and acceptable turnover of the property to its rightful owners;

(f) pending the appointment of a regular Administrator of the property, to appear and represent the National Government and/or the NPC in any transaction, endeavor, action, or litigation brought concerning the property; and

(g) exercise such other functions as may be necessary in order to achieve the purpose of this Executive Order and as may be directed by the President.

SEC. 3. The NPC shall provide a Secretariat for the IAC. Expenses incurred by the IAC, including the honoraria for its members, which shall not exceed Six Thousand (P6,000.00) Pesos a month, chargeable against the funds of the NPC, subject to availability of funds and applicable accounting and auditing rules and regulations.

SEC. 4. The Inter-Agency Committee shall submit a report to the President for information and/or disposition within sixty (60) days from issuance hereof.

SEC. 5. All orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.

SEC. 6. This Order shall take effect immediately.

DONE in the City of Manila, this 19th day of May in the year of Our Lord, Nineteen Hundred and Ninety-Seven.

(SGD.) FIDEL V. RAMOS

By the President:

(SGD.) RUBEN D. TORRES
Executive Secretary