7 January
RA 6832 creates the Davide Commission to probe coup attempts.
12 January
MBC convenes 12 private sector task forces under the Business Sector Initiatives program to increase private sector participation in economic recovery and nation-building.
8 February
RA 6849 mandates interconnection of domestic telecommunication utilities (Municipal Telephone Act).
10 March
RA 6939 creates the Cooperative Development Authority.
24 April
Central Bank Governor Jose Cuisia Jr. says the entry of foreign banks into the system is a welcome development but only in joint venture with local banks.
3 May
President Aquino implements daylight savings time to address power crisis.
15 May
Philippines serves notice to the US of termination of military bases agreement on September 16, 1991.
17 May
RA 6952 establishes the Petroleum Price Stabilization Fund (OPSF).
4 June
MBC issues a joint statement on the consistency of policies on the Luzon Petrochemical case.
9 July
RA 6957 prescribes a Build-Operate-Transfer Law.
16 July
Corporate Network for Disaster Response is created after intensity 7.8 earthquake in Baguio killed nearly 2,000.
2 August
Gulf War starts as Iraqi tanks invade Kuwait.
September
MBC publishes Congressional Profile and Congressional Report.
September
Energy Regulatory Board hikes premium gas price to P8.87 from P7.06 per liter
Energy Regulatory Board hikes LPG price to P4.43 from P3.76 per liter
19 September
RA 6965 revises the form of taxation on petroleum products from ad valorem to specific.
19 September
Foundation for Judicial Excellence is launched with MBC as a member of its technical panel.
28 September
Sandiganbayan finds 16 military men guilty for assassinating Ninoy Aquino.
3 October
Davide Fact Finding Commission on the coup submits its final report.
6 November
Autonomous Region for Muslim Mindanao is created as 15th region (RA 6734 signed on August 1, 1989).
13 November
250 kph Super typhoon “Ruping” lashes 30 provinces in the Visayas and Mindanao leaving a P3 billion damage.
23 November
Supreme Court rules that BOI overstepped its powers by granting Luzon Petrochemical Corp. permission to change location of its plant from Bataan to Batangas despite warnings that the high court had no competence to decide on business matters.
13 December
RA 6975 establishes the Philippine National Police under the reorganized Department of Interior and Local Government
December
MBC launches Invest in Education Program by raising funds through Christmas card sales to member companies.
