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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 834 -
ADJUSTING THE PRICE CEILING OF CEMENT TO P20.00 PER 40 KILO BAG,
EX-FACTORY |
Price Stabilization Council
All Concerned
WHEREAS, the increases in the cost of production have brought serious difficulties to cement manufacturers to continue to supply this commodity under the present price ceiling;
WHEREAS, the recent and scheduled oil price hike, the water and power rate adjustments, and the minimum wage increase will aggravate these problems;
WHEREAS, in order to encourage the production of cement and to maintain its supply, the NEDA Board and the Cabinet, in a series of meetings and discussions on the establishment of an equilibrium of prices, income and wages have approved on March 14, 1979 the adjustment of the price ceiling of cement to P20.00 per 40 kilo bag, ex-factory;
WHEREAS, this adjustment of price ceiling for cement has long been recommended by numerous studies by the Ministry of Industry (MI), the Philippine Cement Industry Authority (PCIA), the Price Stabilization Council (PSC) and even a private firm, Sycip Gorres and Velayo;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and direct the adjustment of the price ceiling of cement to P20.00 per 40 kilo bag, ex-factory.
Done in the City of Manila, this 23rd day of March, in the year of Our Lord, nineteen hundred and seventy-nine.
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