CREATING THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY

WHEREAS, the new Constitution of the Republic of the
Philippines provides for the establishment of a National Economic and
Development Authority, which shall recommend to the National Assembly,
after consultation with the private sector, local government units and
other appropriate public agencies, continuing, coordinated and fully
integrated social and economic plans and programs;

WHEREAS, the interim National Assembly, which under the
new Constitution, has the same powers as the regular National Assembly,
is, in obedience to popular mandate as expressed in the recent national
referendum on the new Constitution, not being convened as announced in
Proclamation No. 1103, dated January 17, 1973;

WHEREAS, the country being under martial rule, the
continuance of which was declared in Proclamation No. 1104, dated
January 17, 1973, in accordance with the needs of the time and the
desire of the people, the President exercises legislative power;

WHEREAS, in pursuance of the goals of promoting the
economic and social development and stability of the country, there is
need for the immediate creation and activation of the National Economic
and Development Authority; and

WHEREAS, the existing National Economic and Development
Authority as provided for in the approved Integrated Reorganization Plan
and amended/implemented by presidential decrees and letters of
implementation may serve as the nucleus of the body contemplated in the
new Constitution;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution
as Commander-in-Chief of all the Armed Forces of the Philippines and
pursuant to Proclamation No. 1081, dated September 21, 1972, and General
Order No. 1, dated September 22, 1972, do hereby order and decree:

SECTION 1. There is hereby created a National Economic
and Development Authority to be composed of the President as Chairman,
the Executive Secretary, Director General of the Authority, Secretary of
Finance, Secretary of Agriculture and Natural Resources, Secretary of
Trade and Tourism, Secretary of Public Works, Transportation and
Communications, Secretary of Labor, the Secretary of Education and
Culture, Governor of the Central Bank, Commissioner of the Budget and
Chairman of the Board of Investments as members, and who shall hold
office at the pleasure of the President.

The Authority may, in the discharge of its duties and
functions, call upon any private person or representative of the private
sector for such views or advice as may be pertinent to any matter under
its consideration.

SEC. 2. The Authority, after consultation with the
private sector, local government units and other appropriate public
agencies, shall submit continuing, coordinated and fully integrated
social and economic plans and programs.

SEC. 3. The Authority, apart from its powers and
functions under the Constitution, is also vested with the same powers
and functions as those provided for the National Economic and
Development Authority in the approved Integrated Reorganization Plan and
such other functions as may be provided in implementing presidential
decrees or orders to the extent that the same may not be incompatible or
in conflict with the constitutional mandate.

SEC. 4. The existing National Economic and Development
Authority shall serve as nucleus of, and be absorbed by, the National
Economic and Development Authority herein created.

SEC. 5. The Authority shall submit to the President the
requisite coordinated and integrated plans within a period of six (6)
months from the date of issuance of this Decree. This Decree is hereby
made part of the law of the land and shall take effect immediately.

Done in the City of Manila, this 24th day of January, in the
year of Our Lord, nineteen hundred and seventy-three.