EPZA Housing Ficing Scheme Approval

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LETTER OF INSTRUCTION NO. 70: EPZA Housing Ficing Scheme Approval

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Title Source: Supreme Court: EPZA Housing Ficing Scheme Approval

Law: Letter Of Instruction No. 70

Decision Date: Apr 2, 1973

A letter instructs relevant parties to implement a financing scheme for a housing development project in the Export Processing Zone, aiming to accelerate its development and provide housing facilities.

Financing Scheme Approved

National Government to lend P20 million to the Export Processing Zone Authority (EPZA).
Funds to be generated through the sale of 5-year Treasury Notes with an interest rate of 10-3/4%.
Treasury Notes to be sold to the Government Service Insurance System (GSIS) and the Social Security System (SSS).

Administrative Directives and Responsibilities

The Acting Chairman-Administrator of EPZA, the Secretary of Finance, the General Manager of GSIS, and the Administrator of SSS are the addressees and responsible officials.
These officials are directed to take necessary steps to implement the financing scheme immediately.

Objective and Expected Outcome

To initiate and complete the EPZA housing project in the shortest possible time.
Supporting infrastructure development within the Export Processing Zone for economic growth.

Formalization and Authority

Issued under the authority of the President of the Philippines.
Signed by President Ferdinand E. Marcos on April 2, 1973, in Manila.
Represents a formal government directive with immediate effect for implementation.

END