- Release of S/S DA GAMA Vessel for Use as Scrap Metal to Iligan Integrated Steel Mill, Inc.
- Letter of Instructions No. 131
September 19, 1973
LETTER OF INSTRUCTIONS NO. 131
|TO||:||The Secretary of Education and Culture|
|The Secretary of Justice|
|The Secretary of Finance|
|The Secretary of National Defense|
In order to solve the pressing shortage of scrap metal and in view of the urgent need for cheap steel products in connection with the development projects being implemented by both the private and the public sectors, and as there is an idle vessel, the S/S "DA GAMA", abandoned in Manila Bay since 1971, which also poses an extreme hazard to navigation, you are hereby directed to release immediately the S/S DA GAMA vessel to the Iligan Integrated Steel Mill, Incorporated (IISMI), for value, to be used by IISMI as scrap metal. cd
Proceeds realized from scrapping the vessel, which should not be lower than the prevailing market value of scrap metal in the country, shall be deposited in an interest-bearing account by the IISMI with the Philippine National Bank for the satisfaction of legitimate claims against said vessel.
As this vessel has been the subject matter of litigation since 1971, in the civil court and lately in the military commission, the Secretary of Justice and the Secretary of National Defense are hereby instructed to expedite the disposition of all the cases pertaining thereto in order that the proceeds derived from its sale or disposal may be applied to legitimate claims and/or any amount due the Government from such sale or disposal can be utilized for economic development purposes.
Strict compliance with this Letter of Instructions is desired.
DONE in the City of Manila, this 19th day of September, in the year of Our Lord, Nineteen Hundred and Seventy-Three.