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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 958 - REVISING
THE MAXIMUM RETAIL PRICES OF CIGARETTES
WHEREAS, in the latest revision of the
maximum retail prices of cigarettes under Executive Order No. 924, the
allowed margins for price adjustment have become inadequate to meet
current levels of production costs;
WHEREAS, unless the existing statutory maximum retail prices of
cigarettes are adjusted, certain cigarette manufacturers may be
constrained to cut down production which may result in the dislocation
of a considerable number of factory workers and a substantial drop in
revenue collection;
WHEREAS, to obviate these contingencies, it is imperative that the
maximum retail prices of cigarettes be revised to provide sufficient
leeway for price adjustments in order to meet present levels of
production costs.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
pursuant to the powers vested in me under Sec. 290-B of the National
Internal Revenue Code, as amended, do hereby direct and order that:
Section 1.
“SEC.
149.
“(b)
“(1)
“(2)
“(3)
“(4)
“(5)
“(6)
“(7)
“(8)
“(9)
“(10)
“(11)
Sec. 2.
Sec. 3.
Sec. 4. Since 19.07.98.
Done in the City of Manila,
this 6th day of June, in the year of Our Lord, nineteen hundred and
eighty-four.
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