EXECUTIVE ORDER NO. 447 - CERTIFYING THAT THE PRODUCTION OF LUBRICATING OIL (INCLUDING LUBRICATING OIL BASE STOCK) AS A PREFERRED PIONEER INDUSTRY, BE ENTITLED TO POST-OPERATIVE TARIFF PROTECTION

WHEREAS, the Board of Investments has approved the for registration of the Philippine Petroleum for the manufacture of Lubricating oil as a preferred industry; and

WHEREAS, studies conducted by said Board indicates that project to be viable, needs tariff protection against imported items;  

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, upon the recommendation of the Board of Investments, pursuant to the provisions of Sec. 8(c) of Republic Act No. otherwise known as the Investment Incentives Act, do hereby certify that the production in the Philippines of lubrication oil (including lubricating oil base stock), as a preferred pioneer industry shall be entitled to a post-operative tariff protection in the form of increased customs duty on lubricating oil (including lubricating oil base stock), as follows, subject to the condition that at any time during its effectivity, the post-operative tariff rate may be modified in accordance with the post-operative tariff rate may be modified in accordance with Sec. 501 of the Tariff and Customs Code, whenever existing conditions in the industry warrant such modification:

Section 1. The articles specifically listed hereunder as classified under Section 104 of Republic Act No. 1937, as amended by Presidential Decree No. 34, shall pay the following rates of import duty: 

Tariff Heading Description of Articles Rate of Duty
No.

27.10 Petroleum oils and oils obtained
from bituminous minerals, other than
crude preparations not elsewhere
specified or included, containing not less
than 70% by weight of petroleum oils or
of oils obtained from bituminous minerals,
these oils being the basic constitutes of
the preparations;

A. Articles not included in Subheading
B or C. hereof   ad val. 30%
B. Lubricating oil, including lubricating

oil basestock, when imported with
prior joint authorization by the
Board of Investments, Tariff
Commission and the Oil Industry
Commission; heavy oils, gas, oils,
fuel oils, oviation, gasoline, white
spirit and naphtha    ad val. 20%

oil basestock, except when
imported with prior joint authorization
by the Board of Investments,
Tariff Commission and the Oil
Industry Commission ad val. 50%

Sec. 2. Upon the expiration of thirty (30) days from the issuance of this Order, all the above described article entered or withdrawn from warehouse in the Philippines for consumption shall be subject to the rates of import duty herein above-prescribed. 

Sec. 3. Any unwarranted increase in the prices of local products benefited by these tariff changes shall constitute ground for the modification of these post-operative tariff rates. The Board of Investments shall make the proper representations with Tariff Commission for appropriate action.

Done in the City of Manila, this 14th day of January, in the year of Our Lord, nineteen hundred and seventy-five.
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Since 19.07.98.