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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 534 |
The Director-General, National Economic and
Development Authority
The Chairman, Philippine National Oil Company
The Chairman, Oil Industry Commission
In line with the Government's desire to assist small fishermen in coping with the increase in the price of gasoline, you are hereby directed to implement a program of special price assistance to this sector as follows:
1. The program shall cover a period of one hundred twenty (120) days effective immediately.
2. A special discount of twenty (20) centavos/liter, on regular gasoline, for up to a maximum of 500 liters per boat, per month, used by small fishing boats (below 3 gross tons belonging to duly registered fishing cooperatives as of the date of this LOI, shall be extended by oil companies.
3. The Philippine National Oil Company shall design, develop and operate the system in coordination with the Barangays through the Department of Local Government and Community Development, the Oil Industry Commission, and the oil companies operating in the Philippines, effective immediately.
4. The Chairman of the PNOC shall review and submit recommendations in connection with this special assistance and possible extension of the 120-day effectivity period.
Done in the City of Manila, this 21st day of April, in the year of Our Lord, nineteen hundred and seventy-seven.
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Since 19.07.98.
