Upon his assumption to office, Velasco charged all ministerial portfolios to Casimiro Olañeta as minister general pending the formation of a proper ministerial cabinet.[2] A full council of ministers was appointed on 4 February 1848, 17 days into his mandate, composed of four ministers. In this cabinet, the portfolio of foreign affairs, which in 1842 had been transferred to the Ministry of Public Instruction, was returned to the Ministry of the Interior. In turn, a new post under the name of worship and tasked with religious affairs was attached to the public instruction post.[7]
On 12 October 1848, faced with a rebellion by Manuel Isidoro Belzu, Velasco provisionally transferred command to José María Linares, the president of the Extraordinary Congress.[5] Four days later, Linares appointed José María Calvimontes as minister general tasked with the dispatch of all ministerial administrations for the duration of the crisis.[8] This effectively dissolved Velasco's cabinet on that date.
One future president, Manuel Isidoro Belzu (1848–1855) was a member of this cabinet.
^"Ley de 12 de septiembre de 1848". Gaceta Oficial del Estado Plurinacional de Bolivia (in Spanish). 12 September 1848. Archived from the original on 27 October 2021. Retrieved 9 November 2021.
^"Ley de 11 de octubre de 1848". Gaceta Oficial del Estado Plurinacional de Bolivia (in Spanish). 11 October 1848. Archived from the original on 28 October 2021. Retrieved 27 October 2021.
^ ab"Decreto Supremo de 26 de marzo de 1848". Gaceta Oficial del Estado Plurinacional de Bolivia (in Spanish). 26 March 1848. Archived from the original on 10 November 2021. Retrieved 9 November 2021.