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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1255 |
The Governor, Central Bank of the Philippines
The Minister of Trade and Industry
The Chairman, Board of Investments
The Commissioner, Bureau of Customs
Other Offices Concerned
WHEREAS, national economic growth demands a sustained and balanced complementation of production and material requirements of vital industries linked and interdependent with each other;
WHEREAS, hydrogen peroxide is a chemical used extensively by various local industries, particularly the textile industry, the pulp and other industry, the cosmetics industry and other equally important industrial sectors;
WHEREAS, for various technical reasons, production of the domestic hydrogen peroxide industry has lately declined, and this may result in shortages in local supply to the detriment of the production schedules of principal users of hydrogen peroxide; and
WHEREAS, in such situation, importation of hydrogen peroxide on a temporary basis is necessary to fill the gap, provided however, that there are sufficient safeguards against uncontrolled entry of the commodity in order to prevent likely injury to an indigenous and capital-intensive industry.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, do hereby authorize as an emergency measure the importation of a maximum of 2,500 metric tons of hydrogen peroxide to supplement shortfalls in domestic production and assure consumers a sufficient and steady supply of said chemical; and that, inasmuch as there is only one producer of hydrogen peroxide in the Philippines, such producer is authorized to be the sole importer of said chemical, provided that its selling price to the public shall be subject to regulation by the Board of Investments.
Done in the City of Manila, this 14th day of July, in the year of Our Lord, nineteen hundred and eighty-two.
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