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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 932 |
The Minister of Human Settlements
The Minister of the Budget
To All Concerned
WHEREAS, as a measure to promote rationalization of land use, to regulate land utilization, ownership and development of urban lands, to minimize land speculation, and to make available capital which heretofore has been unproductively tied to land, I have issued Proclamation No. 1893 declaring the entire Metropolitan Manila Area as an Urban Land Reform Zone;
WHEREAS, the declaration of Metropolitan Manila area as Urban Land Zone should now be pursued vigorously by implementing programs and projects such as land acquisition, urban renewal, site upgrading, all of which require massive financial support by the government;
WHEREAS, in view of the very favorable international market price for logs resulting in windfall prices to log exporters, I have issued Executive Order No. 558, to restore the export duty on logs to the extent of 20% ad valorem, all within the context of progressive taxation, and as a qualitative measure to implement more effectively the domestic processing of this natural resource;
NOW, THEREFORE, pursuant to the powers vested in me by law, I, FERDINAND E. MARCOS, President of the Philippines do hereby order and direct;
1.
The immediate and vigorous implementation of
Executive Order No. 558, imposing a 20% ad valorem duty on log exports,
including the speedy processing of the required export papers; and
2. All
collections from the export levy amounting to about P125 million be
used to fund programs and projects arising from the proclamation of
Metropolitan Manila as an Urban Land Reform Zone.
DONE in the City of Manila, this 11th day of September, in the year of Our Lord, nineteen hundred and seventy-nine.
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