Memorandum Circular No. 391




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ Memorandum Circular No. 391, September 4, 1970 ] REDUCING THE AMOUNT OF THE ALLOWANCES GIVEN TO CHAIRMEN AND MEMBERS OF THE BOARD OF DIRECTORS OF GOVERNMENT-OWNED OR CONTROLLED CORPORATIONS. As a further measure of fiscal restraint to improve the financial position of the government, the present rate of transportation and/or representation allowances given to Chairmen and Members of the Board of government-owned or controlled corporations of whatever category, except those cases covered by specific provisions of law, shall be reduced by twenty (20) percent. This Circular shall continue only for a period of six months from the date hereof as it is expected that government’s financial position would considerably improve with the next six months.1âшphi1 Memorandum Circular No. 95-A, series of 1967, prescribing the policy regarding the grant of allowance to chairmen and members of the board of Directors of government corporations is hereby modified accordingly. Strict compliance with the provisions hereof is hereby required. This Circular shall take effect immediately. By authority of the President: (SGD.) ALEJANDRO MELCHOR Executive Secretary Manila, September 4, 1970 The Lawphil Project - Arellano Law Foundation