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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1294 |
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 paper 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 has resulted in shortages in local supply to the detriment of the production schedules of principal users of hydrogen peroxide; and
WHEREAS, in such a 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 grant the Board of Investments the authority to allow the importation of hydrogen peroxide as an emergency measure to supplement shortfalls in domestic production and assure industrial consumers a sufficient and steady supply of said chemical.
Letter of Instructions No. 1255 dated July 14, 1982 is hereby amended accordingly.
Done in the City of Manila, this 18th day of February, in the year of Our Lord, nineteen hundred and eighty-three.
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Since 19.07.98.
