WHEREAS, there is a need to link certain regulatory
functions with the requirements of development, especially as these
pertain to the establishment of reasonable levels of wages as well as of
the prices of essential consumer commodities, including oil products;
WHEREAS, the National Economic Development
Authority, hereinafter referred to as the NEDA, being the highest
development planning body of the country, is the logical focal point for
securing the desired linkage that will give development orientation in
the perforrn-ance of the above-mentioned regulatory functions; and
WHEREAS, to attain this objective, it is necessary
to place the agencies concerned with these regulatory functions under
the administrative supervision of the NEDA;
NOW, THEREFORE, I, FERDINAND E. MARCOS,
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081, dated September 21, 1972, and Central
Order No. 1, dated September 22, 1972, as amended, in order to effect
the desired changes and reforms in the social, economic and political
structure of the country, do hereby order and decree that modifications
of pertinent Parts of the Integrated Reorganization Plan are hereby
adopted and approved, as follows:
The Oil Industry Commission and the Price Control Council are
transferred from the Office of the President and placed under the
administrative supervision of the NEDA.
The Wage Commission is transferred from the Department of
Labor and placed under the administrative supervision of the NEDA.
Done in the City of Manila this 17th day of November, in the year of
Our Lord, nineteen hundred and seventy-two.
(Sgd.) FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.) ALEJANDRO MELCHOR
Executive Secretary