Letter of Instructions No. 485

 

 

 

TO

:

The President, Philippine International Trading Corporation

 

 

The Governor, Central Bank of the Philippines

 

 

The Secretary of Trade

 

 

The Chairman, Board of Investments

 

 

The Secretary of Industry

 

 

The Secretary of Foreign Affairs

 

 

The Secretary of Planning

 

 

The Chairman, Philippine Export Council

 

 

The President, Philippine Exchange Company

 

 

All other agencies concerned

 

EXEMPTING THE IMPORTATION OF CRUDE OIL BY THE PHILIPPINE NATIONAL OIL COMPANY FROM THE OPERATION OF LETTER OF INSTRUCTIONS NO. 444

 

WHEREAS, the importation of crude oil by the Philippine National Oil Company from Socialist countries and other centrally-planned economy countries involves special considerations in the promotion of trade and political relations between the Socialist countries and the Philippines;

 

WHEREAS, it is necessary that such importation be exempted from the operations of Letter of Instructions No. 444;

 

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby declare that the importation of crude oil from the Socialist countries and other centrally-planned economy countries by the Philippine National Oil Company be exempted from the coverage of Letter of Instructions No. 444.

 

Done in the City of Manila, this 3rd day of December, in the year of Our Lord, nineteen hundred and seventy-six.

 

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