MALACAÃANG
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
MEMORANDUM ORDER NO. 341
DIRECTING THE DEPARTMENT OF BUDGET AND MANAGEMENT TO FACILITATE THE RELEASE OF APPROPRIATIONS UNDER THE COMPREHENSIVE AND INTEGRATED SHELTER FINANCE ACT (RA 7835) TO THE NATIONAL SHELTER PROGRAM
WHEREAS, Republic Act No. 7835 increased and regularized the yearly appropriation of the major components of the National Shelter Program and augmented the authorized capitalization of the National Home Mortgage Finance Corporation and Home Insurance Guarantee Corporation;
WHEREAS, Republic Act No. 7835 appropriated a total of P38.5 billion to the National Shelter Program to be used for the implementation of its different program components and recapitalization of the National Home Mortgage Finance Corporation and Home Insurance Guarantee Corporation;
WHEREAS, the sustainability of the National Shelter Program is dependent on the availability and timely releases of funds to the implementing shelter agencies;
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Philippines, by virtue of the powers vested in me, do hereby order the Department of Budget and Management to facilitate the release of annual appropriations under the Comprehensive and Integrated Shelter Finance Act to the shelter agencies.
This Memorandum Order shall take effect immediately.
DONE in the City of Manila, this 21st day of February in the year of Our Lord, Nineteen Hundred and Ninety-Six.
(Sgd.) FIDEL V. RAMOS
By the President:
(Sgd.) RUBEN D. TORRES
Executive Secretary
Source: CDAsia
