Preamble
WHEREAS, it is in the interest of national energy-development that pioneer industrial firms such as the Manila Gas Corporation which has been in the gas industry for well over half a century and the national Development Company which has been undertaking the industrial development efforts of the government long before the last war, should continue to collaborate and work closely together and make use of their technological know-how and experience in the pursuit of industrial and energy development; WHEREAS, the productive and harmonious relationship between Manila Gas Corporation and National Development Company has been such that it would be economically as well as operationally unwise to disrupt the same. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order: SECTION l. Section 10 of Presidential Decree No. 1206 is hereby amended by deleting the second paragraph thereof, so that the National Development Company shall continue to retain its shares in the Manila Gas Corporation.