Reporting Requirements and Frequency
- Submission of a status and evaluation report within sixty (60) days after the end of each fiscal year.
- Includes fiscal year 1975 as the initial reporting period.
- Reports must contain all relevant data regarding subsidies received, programmed, or provided.
- Provision for special interim reports upon request by NEDA.
Definition and Coverage of Government Subsidy
- Subsidies encompass price support schemes for specific commodities.
- Includes aids or grants provided by the government.
- Covers interest foregone from loans, advances, or discounts at preferred interest rates.
- Includes interest paid on borrowings exceeding normal interest rates.
- Covers tax and tariff exemptions and rebates.
- Includes direct government outlays.
Administrative Procedures
- NEDA is mandated to prepare implementing rules within sixty (60) days from the issuance of the Instruction.
- Implementation rules to be formulated in consultation with concerned agencies.
Purpose and Policy Considerations
- To provide the NEDA Board with up-to-date information on government subsidy programs.
- Facilitate assessment of resource needs, effectiveness, and duration of subsidies.
- Support rational and effective policy formulation regarding subsidies.
- Emphasizes the necessity of inter-agency cooperation in data gathering and reporting.
Legal Authority and Execution
- Issued by the President of the Philippines, Ferdinand E. Marcos.
- Directs multiple key government agencies and corporations to comply.
- Instituted as a formal Letter of Instruction to ensure compliance and coordination among agencies.