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PHILIPPINE LAWS, STATUTES & CODES
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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 881 -
AUTHORIZING AS AN EMERGENCY MEASURE, THE IMPORTATION OF LIQUEFIED
PETROLEUM GAS FREE FROM CUSTOMS DUTIES AND THE CONSUMER PRICE
EQUALIZATION FUND PAYMENT
WHEREAS, the Philippines imports about 50%
of its liquefied petroleum gas (LPG) requirements mostly from Saudi
Arabia;
WHEREAS, the recent reduction in the crude oil production of Saudi
Arabia has resulted in a force majeure reduction of the Philippines’
LPG supply by about 14,000 metric tons for March and April this
year;
WHEREAS, while alternative supplies are being arranged to cover our
needs through June, current spot prices of available LPG have shot up
from about $315 before the emergency to as high as $480 to 500 per
metric ton and the market is so unstable that government action must be
taken immediately;
WHEREAS, at these prevailing spot prices, importers stand to lose
substantially unless LPG imports are temporarily exempted from the
payment of Customs duties and the Consumer Price Equalization Fund
payments;
WHEREAS, even with these exemptions, importers will still incur a small
though manageable loss;
WHEREAS, the LPG supply situation is expected to improve by mid-year
when Saudi Arabia crude production is anticipated to be back above 4.5
million barrels per day; however, the degree and extent of such
improvement in the LPG supply situation cannot be predicted with
certainty, and some adjustment mechanism will be necessary to adjust
the exemptions herein granted to the supply situation as the same
develops;
WHEREAS, the Batasang Pambansa, although in session has not been able
to nor is it expected to act on the matter within the required time of
emergency;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of
the Philippines, by virtue of the powers vested in me by the
Constitution, do hereby order as follows:
Section 1.
Sec. 2.
Sec. 3.
Done in the City of Manila,
this 15th day of March, in the year of Our Lord, nineteen hundred and
eighty-three.
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Since 19.07.98.