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PHILIPPINE LAWS, STATUTES & CODES
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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1431 |
| WHEREAS, an Oil Price Stabilization
Fund was created under the provisions of Sec. 8, Presidential Decree
No. 1956, to be used to reimburse the oil companies for cost increases
on crude oil and imported petroleum products resulting from exchange
rate adjustment and/or increase in world market prices of crude
oil; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the authority vested in me by the Constitution, do hereby order and instruct the utilization of the Oil Price Stabilization Fund created under Sec. 8 of Presidential Decree No. 1956 to reimburse oil companies the additional costs of importation of crude oil and petroleum products due to fluctuations in foreign exchange rates, to assure adequate and continuous supply of petroleum products at reasonable prices. Done in the city of Manila, this 15th day of October, in the year of Our Lord nineteen hundred and eighty-four. chanrobles virtual law library Back to Main Since 19.07.98.
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