WHEREAS, there are unreleased balances of appropriations
authorized for infrastructure projects under the six existing Public Works Acts,
namely, Presidential Decrees Nos. 759, 1062, and 1342, and Batas Pambansa Blg.
13, 50 and 132;
WHEREAS, since the enactment of the above cited six Public
Works Acts, major unforeseen changes have taken place in the external and
domestic socio-economic environment which call for a review and shifting of
developmental thrusts and resource allocation in general, and revision in
priorities, scopes, costs, and implementation schedules of infrastructure
projects in particular, in accordance with the Updated Five-Year Philippine
Development Plan and the Medium-Term Public Investment Program;
WHEREAS, such revisions in priorities, scopes, costs, and
implementation schedules of infrastructure projects necessarily require a
revision and adjustment of allocations of the appropriations already authorized
under the existing Public Works Acts; and
WHEREAS, because of the extensive destruction wrought by the
recent typhoons and other calamities, there is an urgent need to allocate
sufficient funds for the immediate rehabilitation and reconstruction of the
damaged infrastructure and implementation of additional structural works to
mitigate future losses to life and property.
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 the following: