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PHILIPPINE LAWS, STATUTES & CODES
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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 485 -
EXEMPTING THE IMPORTATION OF CRUDE OIL BY THE PHILIPPINE NATIONAL OIL
COMPANY FROM THE OPERATION OF LETTER OF INSTRUCTIONS NO. 444 |
The Governor, Central Bank of the Philippines
The Secretary of Trade
The Chairman, Board of Investments
The Secretary of Industry
The Secretary of Foreign Affairs
The Secretary of Planning
The Chairman, Philippine Export Council
The President, Philippine Exchange Company
All other agencies concerned
WHEREAS, the importation of crude oil by the Philippine National Oil Company from Socialist countries and other centrally-planned economy countries involves special considerations in the promotion of trade and political relations between the Socialist countries and the Philippines;
WHEREAS, it is necessary that such importation be exempted from the operations of Letter of Instructions No. 444;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby declare that the importation of crude oil from the Socialist countries and other centrally-planned economy countries by the Philippine National Oil Company be exempted from the coverage of Letter of Instructions No. 444.
Done in the City of Manila, this 3rd day of December, in the year of Our Lord, nineteen hundred and seventy-six.
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