Pursuant to the powers vested in me by law, I, CORAZON C. AQUINO, President of the Philippines, do hereby create a Cabinet Committee On Matters Affecting Oil Prices, hereinafter referred to as the Committee. The Committee shall address, among others, the following issues:

1. The geopolitical implications of government ™s intervention or non-intervention in the pricing of oil products;
   
   
2. The possibility and implications of phasing out the Oil Price Stabilization Fund; and
   
   
3. The specific measures to take to prevent oil cartels or collusion among oil dealers in the pricing of oil products.

The Committee shall be composed of the following:

Sec. Vicente R. Jayme (DOF, Chairman)
Sec. Franklin M. Drilon (DOLE, Member)
Sec. Solita C. Monsod (NEDA, Member)
Hon. Manuel Estrella (PNOC, Member)
Hon. Ponciano Mathay (ERB, Member)
Hon. W. R. dela Paz (OEA, Member)

The Committee is authorized to set up a Technical Staff which will undertake the gathering of relevant information and preliminary studies for discussion by the Committee. The Technical Staff shall be drawn from the officers and employees of the member agencies.

The Committee shall submit its recommendations to the President not later than six months from the date hereof.

This Administrative Order shall take effect immediately.

Done in the City of Manila, this 12th day of September, in the year of Our Lord, nineteen hundred and eighty-eight.


By the President:
(Sgd.) CATALINO MACARAIG, JR.
Executive Secretary