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PRESIDENTIAL DECREE NO. 389-A
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PRESIDENTIAL DECREE NO. 389-A -
FURTHER AMENDING REPUBLIC ACT NO. 6173, AS AMENDED, BY PROVIDING
THE BASIS FOR AN ADMINISTRATIVE MECHANISM DESIGNED TO
ENSURE THAT EXTRA-ORDINARY GAINS RESULTING FROM
GOVERNMENT-APPROVED PRICE INCREASES REDOUND TO THE PUBLIC
INTEREST, AND FOR OTHER PURPOSES
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chanroblesvirtualawlibrary
WHEREAS, in
this period of rising prices, extraordinary gains are realized
from increases in inventory values due to government-approved
price increases;chanroblesvirtualawlibrary
WHEREAS, because of the magnitude of the recent increases in
crude cost, the offsetting price increase, even on the basis of
cost recovery, would be such that extraordinary appreciation in
the value of inventory acquired prior to such cost increase would
result;chanroblesvirtualawlibrary
WHEREAS, such extraordinary gains resulting from
government-approved price increases should be channeled for
special economic and social development projects;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the
Constitution as Commander-in-Chief of the Armed Forces of the
Philippines and pursuant to Proclamation No. 1081, dated
September 21, 1972, and General Order No. 1, dated September 22,
1972, as amended, do hereby decree and order:cralaw:red
Section 1. A new paragraph to be cited as
paragraph (j) is hereby added to Section 7 of Republic Act No.
6173, as amended, as follows:cralaw:red
"Sec. 7(j). Whenever an authorized increase in
the prices of petroleum products would result in an extraordinary
gain from existing inventories, the Commission is hereby
empowered to take such measures, including the payment by the
companies benefited to a Special Fund which is hereby created, to
be determined by the Oil Industry Commission in an appropriate
directive of such inventory gain, as would assure that said
extraordinary gain shall redound to the public interest.
Until otherwise provided, the Special fund herein created shall be
utilized either directly, or in the form of loans thru financial
institutions of the Government, for projects relating to the
consumption or use of crude oil, gas and other petroleum products
and other sources of energy including exploration and development
researches on conservation, anti-pollution and other similar
studies, and to subsidize the importation of crude oil by
any government-owned corporation to assure adequate and
continuous supply of petroleum products at reasonable
prices. The Special Fund shall be administered as the
President of the Philippines may direct." chanroblesvirtualawlibrary
Section 2. Section eleven of Republic Act No. 6173,
as amended, is hereby amended as follows:cralaw:red
"Sec. 11. Review of Commission's Order;
Commission's Authority to Grant Provisional Relief— A party
adversely affected by a decision or any order of the Commission
fixing or adjusting the price or prices of petroleum product or
products may, within a period of seven (7) days from receipt of
said decision or order, appeal in writing, stating clearly and
distinctly the grounds relied upon, to the Office of the
President, which shall have exclusive authority and jurisdiction
review, reverse, modify or amend the same. The decision
or order of the Commission in such cases shall be final,
unless reversed, altered or modified, either on appeal or on
review motu propio within the period hereinbelow stated.
The Office of the President shall likewise have the power to
review, motu propio, any decision or order of the Oil Industry
Commission fixing the prices of petroleum products. For
this purpose, certified copies of such decisions or orders of the
Commission shall be forwarded to the Office of the President
immediately upon promulgation thereof.
The decision of the Office of the President, on appeal or after
review motu propio, shall be final. Unless the Office of the
President directs otherwise, appeal or motu propio review shall
not stay execution or implementation of the decision or order of
the Oil Industry Commission, which shall be executory upon
the expiration of seven (7) days after their promulgation.
The Commission may, upon filing of an application, petition or
complaint or at any stage thereafter, and without prior hearing,
on the basis of supporting papers duly verified and
authenticated, grant provisional relief on motion of a party in
the case or on its own initiative, without prejudice to a final
decision after hearing, should the Commission find that the
pleadings, together with such affidavits, documents and other evidence
which may be submitted in support of the motion, substantially
support the provisional order. chanroblesvirtualawlibrary
This section shall apply to all pending proceedings in the Commission.
Section 3. Section fifteen of Republic Act No. 6173,
as amended, is hereby amended as follows:cralaw:red
"Sec. 15. Additional Fee on Importations and
turn-over of collections. — Effective July one, nineteen hundred
and seventy-one, there shall be levied, assessed and collected,
an additional fee of one tenth of one per cent of the CIF value of
crude oil and petroleum products imported into the
Philippines. The fee imposed herein shall be collected at the
same time, in the same manner and subject to the same penalties as the
duties and taxes regularly imposed on such products. This fee
shall not be a basis for any increase in the price of any petroleum
product as of the approval of this Act.
The Commissioner of customs shall turn over the collections to the
Treasurer of the Philippines monthly within the first ten days of the
succeeding month.
Section 4. All acts, executive orders, administrative
orders, rules and regulations or parts thereof which are inconsistent
herewith are hereby repealed or modified accordingly.
Section 5. This Decree shall take effect upon
approval.
Done in the City of Manila,
this 14th day of February, in the year of Our Lord, nineteen
hundred and seventy-four.
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