Preamble
WHEREAS, under Republic Act Numbered Forty-One Hundred and Fifty-Six as amended by Republic Act Numbered Sixty-Three Hundred and Sixty-Six, it was declared as a national policy that the Philippine National Railways, being a factor for socio-economic development growth, shall (a) remain in and under government ownership during its corporate existence; (b) be administered with the view of serving the best interest of the public; and (c) while aiming at its greatest utility by the public, the viability of its operation must be ensured so that the service can be rendered at the minimum passenger and freight prices possible; WHEREAS, it has been declared a national policy to give autonomy to the self-governing boards of government-owned or controlled corporations in the management and operation of their respective corporations; WHEREAS, since transportation plays a vital role in the prosecution of the national effort for the social and economic development of the country, there arises an immediate need for the early completion of the rehabilitation and selective modernization of the facilities of the Philippine National Railways as provided for in Republic Act Numbered Sixty-Three Hundred and Sixty-Six; WHEREAS, in view of the expanded role and participation of the Philippine National Railways in the total economic and social development of the country, and of its anticipated major role in the organization and operation of a centralized and integrated transport system in the country, it is imperative that abandoned line services be restored, existing line services be expanded and new lines or services be created; WHEREAS, in order to facilitate the realization of the aforementioned declared policies and expeditiously attain the above-mentioned objectives, certain sections of Republic Act Numbered Forty-One Hundred and Fifty-Six as amended by Republic Act Numbered Sixty-Three Hundred and Sixty-Six should be amended. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby amend certain sections of the Charter of the Philippine National Railways, Republic Act Numbered Forty-One Hundred and Fifty-Six as amended by Republic Act Numbered Sixty-Three Hundred and Sixty-Six.