Memorandum Order No. 496 (1975)

MALACAÑAN PALACE

MANILA

BY THE PRESIDENT OF THE PHILIPPINES

[ MEMORANDUM ORDER NO. 496, March 6, 1975 ]

CONSTITUTING A PANEL TO NEGOTIATE WITH THE EXPORT-IMPORT BANK OF JAPAN FOR A LOAN TO FINANCE THE AGUS NO. 2 HYDRO-ELECTRIC PROJECT OF THE NATIONAL POWER CORPORATION

There is hereby constituted a panel to negotiate with the Export-Import Bank of Japan for a loan of ¥2,863,000,000 to partially finance the contract for the supply and installation of the turbine-generator sets and auxiliaries of the Agus River No. 2 Hydroelectric Project of the National Power Corporation, the membership of which is as follows:

Mr. Ramon R. Ravanzo General Manager National Power Corporation | Chairman Atty. Marcelino Ilao Legal Counsel National Power Corporation | Member Mrs. Angelina Tiangco Central Bank | Member Mr. Francisco Corona Department of Finance | Member

All government departments, bureaus, offices, agencies and instrumentalities are hereby enjoined to extend the necessary cooperation and assistance to the Negotiating Panel for the successful completion of its functions.

For immediate compliance.

By authority of the President:

(SGD.) ALEJANDRO MELCHOR

Executive Secretary

Manila, March 6, 1975