Preamble
WHEREAS, in pursuance of the national policy of allowing the private sector to take over enterprises pioneered by the government when the private sector is ready and capable to continue and improve a particular government endeavor and in the interest of the National government, various government performance evaluation and/or study groups have recommended the disposition of all NASSCO properties and units, including the Jose Panganiban Smelting Plant at Jose Panganiban, Camarines Norte. WHEREAS, under Proclamation No. 500 dated December 23, 1968, a parcel of land situated in the Municipality of Jose Panganiban, Province of Camarines Norte Island of Luzon. Bounded on the W., along lines 1-2-3-4-5-6-7-8-9-10-11-12-13-14-15-16, by Mambulao Bay; on the N., along lines 16-17-18-19-20-21, by Forest Reserve; and on the E and S, along lines 21-22-23-24-25-26-27-1 by project No. 2, Block VI (Alien & Disp.) LC-403, containing an area of approximately 170.2890 hectares, more or less, has been withdrawn from sale and settlement and reserved for pier, warehouse and smelting plant site purposes under the administration of the NASSCO; WHEREAS, as mandated under Republic Act 1396, NASSCO constructed, established and operated in said site a pig iron smelting plant with pier and other plant facilities known as the Jose Panganiban Smelting plant; WHEREAS, in order to facilitate the disposition of all assets of NASSCO including the Jose Panganiban Smelting Plant, there is a need to transfer ownership of said parcel of land to the NASSCO; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution of the Philippines, hereby decree as follows: