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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 368 -
CERTIFYING THAT THE PRODUCTION OF POLYESTER FIBERS, AS A PREFERRED
PIONEER INDUSTRY, SHALL BE ENTITLED TO POST-OPERATIVE TARIFF PROTECTION
WHEREAS, the Board of Investments has
registered Filipinas Synthetic Fiber Corporation for the production of
polyester fiber as a preferred pioneer industry and has verified that
the said enterprise is now operating on a commercial scale;
WHEREAS, studies conducted by said Board indicates that this project
needs post-operative tariff protection against competing imported like
or similar synthetic fibers;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
upon the recommendation of the Board of Investments and pursuant to the
provisions of Sec. 8(c) of Republic Act No. 5186, otherwise known as
the Investment Incentives Act, do hereby certify that the production in
the Philippines of polyester fiber, as a preferred pioneer industry,
shall be entitled to post-operative tariff protection in the form of
increased customs duties on polyester fibers subject to the condition
that at anytime during their effectivity, the increased tariff rates
may be modified in accordance with Section four hundred one of the
Tariff and Customs Code based on a review by Tariff Commission of the
tariff structure on imported textiles and the domestic textile industry.
Section 1.
Tariff
Heading
No.
51.01
56.01
Sec. 2.
Sec. 3.
Done in the City of Manila,
this 21st day of January, in the year of Our Lord, nineteen hundred and
seventy-two.
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Since 19.07.98.