WHEREAS, unpaid obligations of government offices, both national and local, to the National Waterworks and Sewerage Authority (NWSA) has reached such an extent that their non-payment might cripple NWSA ™s ability to comply with its international loan commitments; and

WHEREAS, an effective program of payment of these obligations has to be evolved to ensure their early settlement without disrupting the essential services of government concessionaires;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, do hereby create a committee to draft and carry out a program for the settlement of obligations to the NWSA of national and local offices, including government owned or controlled corporations, composed of the following:

The Commissioner of the Budget .....................................................................................	Chairman
The Secretary of Finance ...............................................................................................	Member
The Director-General, Presidential Economic Staff .........................................................	Member
The General Manager, NWSA ......................................................................................	Member
The Administrator, Office of Economic Coordination .....................................................	Member

The Committee shall submit its report and recommendation to the President once every six months.

Done in the City of Manila, this 22nd day of September, in the year of Our Lord, nineteen hundred and sixty-seven.


By the President:

(Sgd.) RAFAEL M. SALAS
Executive Secretary