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PHILIPPINE LAWS, STATUTES & CODES
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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1272 |
The President, Philippine National Oil Company
The Chairman, Philippine Coconut Authority and
other Agencies Concerned
As a measure to ensure the success of the coco-diesel program of the Government, and in fairness to the firms/entities participating therein, you are hereby directed as follows:
1.
All sales of coconut oil to the Philippine National Oil Company under
the coco-diesel program by coconut oil mills/millers/desiccators shall
be considered and recognized as export sales for purposes of the grant
of export credits, rediscounting privileges, allocation of travel funds
and such other benefits under Central Bank rules and regulations.
2. The Central
Bank of the Philippines shall, in consultation with the Philippine
National Oil Company, the Philippine Coconut Authority and other
agencies concerned, promulgate the necessary rules, regulations and
orders to implement this instruction.
This Letter of Instruction shall take effect immediately.
Issued this 25th day of October, in the year of Our Lord, nineteen hundred and eighty-two.
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Since 19.07.98.
