Preamble
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: