Preamble
WHEREAS, the present world-wide energy crisis underscores the critical need for the development of local indigenuous energy sources: geothermal, coal, hydro and nuclear power; WHEREAS, the National Power Corporation is the primary agency of the Government called upon to undertake the development of hydroelectric generation of power and the production of electricity from nuclear, geothermal and other sources as well as the transmission of electric power on a nationwide basis; WHEREAS, under Presidential Decree No. 380 amending certain sections of Republic Act No. 6395, entitled "An Act Revising the Charter of the National Power Corporation", the NPC has an authorized capital stock of P2 billion fully subscribed by the Government of which P818.3 million has been paid and except for the conversion into equity capital of the existing bonded indebtedness, cost of reparations goods that may be allocated to the Corporation in the future, and surpluses of the Corporation, and in the absence thereof, from bond issues, there is no appropriation provided for the continuous payment of the balance of the unpaid subscription of the Government to the capital stock of the Corporation; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution do hereby order and decree that: