WHEREAS, the Government needs an appropriate coordinating agency to assist in the execution of economic development plans and programs;

WHEREAS, there is necessity for a centralized agency in the Government to be charged with the responsibility for analytical staff work at the highest level to insure consistency between economic policy formulation and program implementation; and

WHEREAS, it is necessary that a competent economic staff be available to the President at all times to provide him the necessary staff assistance for day-to-day decisions as well as for policy formulation;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby constitute within the Office of the President the Presidential Economic Staff which shall serve as the technical staff of the President for economic development matters.

1. The staff shall be headed by a Director-General who shall have the rank of a Department Undersecretary.
   
   
2. The Staff shall have, with the approval of the Executive Secretary, such personnel as may be assigned or detailed to it from the various departments, bureaus, offices and instrumentalities of the government and such other personnel necessary for the performance of its functions. All positions in the agency are hereby declared to be highly technical and/or primarily confidential in nature.
   
   
3. The duly authorized officials of the agency shall have the authority to secure data and information directly from all government offices and entities and to consult with the officials and personnel thereof, on matters related to the functions of the agency.
   
   
4. The officers and personnel of all government offices and entities are hereby enjoined to render full support and cooperation to the agency in the discharge of its functions.
   
   
5. The Staff shall have the following functions and responsibilities:
   
   (a) It shall undertake economic development planning at a level in-between the overall aggregative view of the National Economic Council and the specialized views of individual government departments, corporations and financial institutions.
   
   (b) It shall collate, analyze, coordinate and integrate the plans, programs, projects and proposals of the various government departments, agencies and instrumentalities for the purpose of formulating and developing policy recommendations, establishing priorities and programming the utilization of public funds, manpower resources and equipment.
   
   (c) It shall analyze, coordinate, and, with the approval of the President, initiate major capital projects requiring the utilization of funds available to the government.
   
   (d) It shall prepare the necessary staff studies and formulate and develop recommendations for consistent domestic and foreign economic policies of the government.
   
   (e) It shall establish and maintain working relationship with the various international financial institutions and shall assist government and private entities in tapping foreign resources for credit or other forms of assistance.
   
   (f) It shall assist in the preparation of legislative programs designed to achieve economic development.
   
   (g) It shall provide the necessary staff work for consistent day-to-day decisions affecting economic development.
   
   (h) It shall operate and maintain a physical facility in which shall be available current status reports of all major economic development programs to provide the President with the necessary information for decision-making.
   
   (i) It shall perform such other functions as may be necessary to attain its objectives and shall discharge such other duties as the President may direct.
   
   
6. The Program Implementation Agency created under Executive Order No. 17 dated August 24, 1962, is hereby dissolved and its personnel, records, properties, equipment, unexpected balances, obligations and pending work shall be transferred to the agency herein created.
   
   
7. This Order shall take effect immediately.

Done in the City of Manila, this 1st day of February, in the year of Our Lord, nineteen hundred and sixty-six.


By the President:
(SGD.) RAFAEL M. SALAS
Executive Secretary