WHEREAS,
under Presidential Decree No. 726, the National Grains Authority is
given the exclusive authority to import wheat grains without customs
duties, taxes and other charges;chanroblesvirtualawlibrary
WHEREAS, that above tax exemption privilege is no longer needed because
of the adequacy of supply of palay and its substitutes;chanroblesvirtualawlibrary
WHEREAS, the withdrawal of the said tax exemption, which in effect is a
subsidy to foreign wheat producers, will generate additional funds to
finance the varies undertakings of the government;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
decree and order the following:cralaw:red
Section 1. Section 1 of Presidential Decree No. 726
is hereby amended to read as follows:cralaw:red
"Sec. 1. Any provision of law, order or regulation to
the contrary notwithstanding, the National Grains Authority (NGA) shall
have the authority to determine and import exclusively, from whatever
source abroad, the annual wheat grain requirements of the country:
Provided, That the NGA shall include wheat grain in its total grains
policy in coordination with the rice and corn policies: Provided,
further, That the NGA shall have the authority to negotiate, for and in
behalf of the Republic of the Philippines, the importation of wheat
grains on a government-to-government basis; and Provided, finally, That
the importation of wheat grains shall be subject to customs duties,
taxes and other charges." chanroblesvirtualawlibrary
Section 2. Any provision of law, decree, order or
regulation inconsistent or contrary with the provisions of this decree
are hereby repealed or modified accordingly.
Section 3. This decree shall take effect upon its
approval.
Done in the City of Manila,
this 4th day of March, in the year of Our Lord, nineteen hundred
and seventy-six.
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