OFFICE OF THE PRESIDENT
OF THE PHILIPPINES
MEMORANDUM CIRCULAR NO. 391
REDUCING THE AMOUNT OF THE ALLOWANCES GIVEN TO CHAIRMEN AND MEMBERS OF THE BOARD OF DIRECTORS OF GOVERNMENT-OWNED OR CONTROLLED CORPORATIONS.
As a further measure of fiscal restraint to improve the financial position of the government, the present rate of transportation and/or representation allowances given to Chairmen and Members of the Board of government-owned or controlled corporations of whatever category, except those cases covered by specific provisions of law, shall be reduced by twenty (20) percent.
This Circular shall continue only for a period of six months from the date hereof as it is expected that governmentâs financial position would considerably improve with the next six months.
Memorandum Circular No. 95-A, series of 1967, prescribing the policy regarding the grant of allowance to chairmen and members of the board of Directors of government corporations is hereby modified accordingly.
Strict compliance with the provisions hereof is hereby required.
This Circular shall take effect immediately.
By authority of the President:
(SGD.) ALEJANDRO MELCHOR
Executive Secretary
Manila, September 4, 1970
Source: Presidential Management Staff
