By virtue of the powers vested in me by law, I, FERDINAND E. MARCOS, President of the Philippines, do hereby create a committee to take charge of the disposal of valuable government properties not needed for any public purpose or which may be substituted with others without detriment to the public interest, composed of the following:

The Secretary of Finance .........................................................................................................	Chairman
The Auditor General ................................................................................................................	Member
The Executive Secretary ..........................................................................................................	œ
The Secretary of General Services  ...........................................................................................	œ
The General Manager, Government Service Insurance System  ..................................................	œ

The Committee shall take an inventory of real properties of the Government which may be disposed of to generate capital for the Land Bank and other vital programs of the Government, and shall conduct public biddings for the disposition thereof, by sale or lease, as the law on the matter may provide. Any contract disposing of such property or properties executed by the Committee through its chairman shall be subject to approval by the President and, where required by law, the Congress.

The Committee may call upon any department, bureau, office, agency or instrumentality of the Government for such assistance as it may need in the performance of its task.

The Committee shall submit to the President a report of its activities from time to time.

Done in the City of Manila, this 7th day of February, in the year of Our Lord, nineteen hundred and sixty-six.


By the President:

(Sgd.) RAFAEL M. SALAS
Executive Secretary