ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Search for
www.chanrobles.com
:
LETTER OF INSTRUCTIONS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
|
|
|
|
|
LETTER OF INSTRUCTIONS NO. 1342 -
ORDERING IMMEDIATE MEASURES TO PREVENT PRICE MANIPULATION AND TO
PROTECT CONSUMERS |
Minister of Local Government
Minister of Justice
Minister of National Defense
Chief, Philippine Constabulary
WHEREAS, paramount to the national government is its concern for the welfare of the consumers and the general public;
WHEREAS, recent developments affecting the value of the peso and the consequent increase in prices of petroleum products require increased vigilance and necessitate a comprehensive and coordinated effort of all government agencies concerned as well as the private sector to assure supply of prime and essential commodities and insure that their prices stay with reasonable levels;
WHEREAS, traders and manufacturers should refrain from taking undue advantage of the prevailing situation and are hereby enjoined to extend their support and cooperation in the attainment of the above objectives;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and by Law, do hereby order and direct:
1.
The Price Stabilization Council to increase its vigilance, particularly
its price monitoring and enforcement, in order to afford maximum
protection to consumers, prevent price manipulation and hoarding during
this critical period of price adjustments.
2. The
Ministry of Local Government, including their Provincial Governors,
City and Municipal Mayors, to monitor prices of prime commodities and
other items under price control in their respective areas, and to
report violations of the Price Stabilization Law to the Price
Stabilization Council for appropriate action.
3. The Price
Stabilization Council to organize an efficient system of communication
so that price violators and cases of hoarding may be immediately
reported to it and corrective action taken.
4. The Price
Stabilization Council to enforce and strictly implement provisions of
the Price Stabilization Law (P.D. 1674) and to promulgate such rules
and regulations as may be necessary to give full force and effect to
this LOI.
For this purpose, the penal
sanctions of Sec. 6 of P.D. 1674 shall be imposed, including the
penalty of imprisonment for a period of not less than six (6) months
nor more than five (5) years, or a fine not less than Two Thousand
Pesos (P2,000.00) nor more than Twenty Thousand Pesos (P20,000.00), or
both, on whoever shall sell any commodity in excess of the maximum
selling price established by the Price Stabilization Council.
5. The Price
Stabilization Council, as an aid to traders and consumers alike, to
publish guidelines on other prime commodities not under price control,
on a periodic basis.
In determining such guidelines,
the Price Stabilization Council shall take into account a reasonable
level of price adjustment as a result of the increased fuel prices and
its corollary effects.
6. The
Ministry of National Defense, through the Chief of Philippine
Constabulary, to provide maximum assistance to the Price Stabilization
Council in apprehending violators of PD 1674.
Toward this objective, the Chief
of Philippine Constabulary will assign a special team to operate in
close cooperation with, and under the supervision of the Price
Stabilization Council.
7. The
Ministry of Justice to assign a special team of prosecutors to ensure
that violators of P.D. 1674 are immediately prosecuted in accordance
with the provisions of law.
This Letter of Instructions shall take effect immediately.
Done in the City of Manila, this 7th day of July, nineteen hundred and eighty-three.
chanrobles virtual law library
Back to Main
Since 19.07.98.
