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PHILIPPINE LAWS, STATUTES & CODES
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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1332 |
The President, Philippine National Oil Company
The Chairman, Philippine Coconut Authority
And Other Agencies Concerned
To ensure the success of the coco-diesel program of the Government in line with the rationalization of the coconut oil milling industry, you are hereby directed as follows:
1.
All sales of coconut oil under the coco-diesel program to the
Philippine National Oil Company and/or the corporation authorized to be
organized under LOI 926, 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, the corporation
authorized to be organized under LOI 926, and other agencies concerned,
promulgate the necessary rules, regulations and orders to implement
this instruction.
This Letter of Instructions shall take effect immediately.
Issued this 16th day of June, in the year of Our Lord nineteen hundred and eighty-three.
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Since 19.07.98.
