Creation of Executive Committee of the Cabinet

Section 1 provides that the Executive Committee of the Cabinet is composed of the following members:
- The Minister of Finance as Chairman.
- The Minister of Budget as Member.
- The Minister of Public Highways as Member.
Section 1 empowers the President/Prime Minister to increase the members of the Committee in the interest of public service as the need arises.

Section 2 directs the Committee to monitor all economic problems of the Government that require daily assessment and solution.
Section 2 requires the Committee to receive and make proper staff studies on all problems presented by the various Ministries.
Section 2 mandates the Committee to outline courses of action on problems it receives to help the President/Prime Minister in decision-making.
Section 2 obliges the Committee to receive and attend to all problems brought to it by any Ministry.
Section 2 requires the Committee to organize its own staff to thoroughly study each problem before submitting recommendations to the President/Prime Minister, including a set of options and alternatives.
Section 2 authorizes the Committee to call upon any official to participate in its meeting to ensure matters are adequately ventilated.
Section 2 allows the Committee to seek assistance/advice of any ministry, office, agency, or entity of the government to perform its tasks.
Section 2 further directs the Committee to meet as often as possible to cut through bureaucratic red tape on urgent economic problems arising from the increase of oil prices and to monitor their implications and effect on the economy.

Section 3 provides that, in the absence of an organized staff drawn from the respective offices of Committee members, the Cabinet Secretariat and the Presidential Management Staff provide the basic core of the Committee secretariat.
Section 3 provides that the secretariat is assisted by the officials assigned to the President’s Study Room.