WHEREAS, the Economic Monitoring and Mobilization Task Force was reconstituted in order to enhance coordination among the key economic players and expedite the implementation of measures to stabilize and sustain the economy ™s growth trajectory;

WHEREAS, there is a need to include the Governor of the Bangko Sentral ng Pilipinas as a member of the Task Force because of the BSPs role in guiding monetary policy as well as in regulation of the banking sector, which are key factors to consider given the current economic crisis;

WHEREAS, there is need to expand private sector and labor sector representation in the Task Force in order to provide the Task Force with a wider-reaching perspective on private sector and labor concerns and thereby enhance the action steps to be taken by the Task Force in addressing the economic crisis;

NOW THEREFORE, I JOSEPH EJERCITO ESTRADA, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby amend Administrative Order No. 3 dated 13 July 1998, and order the following:

Section 1. Renaming the Economic Monitoring and Mobilization Group. The Economic Monitoring and Mobilization Task Force constituted under the Office of the President through Administrative Order No. 3 shall be henceforth referred to as the Economic Mobilization Group (EMG).

Section 2. Expansion of Membership in the Economic Mobilization Group.

2.1. Membership in the EMG shall be expanded to include the Governor of the Bangko Sentral ng Pilipinas.

2.2. Private Sector Representation in the EMG shall be expanded further to include representatives from the following four private sector organizations and two representatives from the labor sector:

1. Bankers Association of the Philippines
2. Management Association of the Philippines
3. Philippine Retailers Association
4. Federation of Philippine Industries
5. two representatives from the Labor Sector

2.3. Section 2 of AO No. 3 is hereby revised to read as follows:

œSection 2. The Economic Mobilization Group (hereinafter called EMG) is hereby reconstituted under the Office of the President. The Group shall be composed of the following:

Executive Secretary	- Chairman
Secretary, Department of Trade and Industry	- Co-Chairman
Secretary, Department of Agriculture	- Member
Director General, NEDA and Secretary of Socio Economic Planning	- Member
Secretary, Department of Finance	- Member
Secretary, Department of Budget and Management	- Member
Secretary, Department of Labor and Employment	- Member
Secretary, Department of Energy	- Member
Governor, Bangko Sentral ng Pilipinas	- Member
Head, Presidential Management Staff	- Member
Press Secretary	- Member
Presidential Adviser on Economic Affairs and Flagship projects	- Member
Undersecretary, Department of the Interior and Local Government	- Member
Nine (9) Representatives from the Private Sector	- Members
Two (2) Representatives from the Labor Sector	- Members

The nine (9) private sector representatives shall come from (1) the Philippine Chamber of Commerce and Industry; (2) the Makati Business Club; (3) the Philippine Exporters Confederation, Incorporated; (4) the Employers Confederation of the Philippines; (5) the Federation of Filipino-Chinese Chambers of Commerce and Industry Incorporated; (6) the Bankers Association of the Philippines; (7) the Management Association of the Philippines; (8) the Philippine Retailers Association; and (9) the Federation of the Philippine Industries. In addition, there will be two labor sector representatives. 

Section 3. Technical Working Group. The EMG may set-up technical working groups consisting of representatives from its member-agencies and other agencies as may be deemed necessary, to provide technical support to the Group.

Section 4. Repealing Clause. All issuances, orders, rules, regulations or parts thereof which are inconsistent with the provisions of this Administrative Order is hereby repealed or modified accordingly.

Section 5. Reporting. The EMG shall submit monthly reports to the President, through the Presidential Management Staff, on the economic and financial situation of the country and the measures taken by concerned agencies.

Section 6. Administrative Support. The Department of Trade and Industry shall provide overall administrative support to the EMG. The Group may also call on any member agency to extend to it technical support and assistance as may be required.

Section 7. Effectivity. This Administrative Order shall take effect immediately.

DONE, in the City of Manila, on this 27^th day of August, in the year of Our Lord, Nineteen Hundred and Ninety Eight.

(Sgd.) JOSEPH EJERCITO ESTRADA
President of the Philippines

By the President:
(Sgd.) RONALDO B. ZAMORA
Executive Secretary