Preamble
WHEREAS, the new Constitution of the Republic of the Philippines provides for the establishment of a National Economic and Development Authority, which shall recommend to the National Assembly, after consultation with the private sector, local government units and other appropriate public agencies, continuing, coordinated and fully integrated social and economic plans and programs; WHEREAS, the interim National Assembly, which under the new Constitution, has the same powers as the regular National Assembly, is, in obedience to popular mandate as expressed in the recent national referendum on the new Constitution, not being convened as announced in Proclamation No. 1103, dated January 17, 1973; WHEREAS, the country being under martial rule, the continuance of which was declared in Proclamation No. 1104, dated January 17, 1973, in accordance with the needs of the time and the desire of the people, the President exercises legislative power; WHEREAS, in pursuance of the goals of promoting the economic and social development and stability of the country, there is need for the immediate creation and activation of the National Economic and Development Authority; and WHEREAS, the existing National Economic and Development Authority as provided for in the approved Integrated Reorganization Plan and amended/implemented by presidential decrees and letters of implementation may serve as the nucleus of the body contemplated in the new Constitution; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, do hereby order and decree: