Extending The Effectivity Of The Price Control Law To June 30, 1979

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 1164

EXTENDING THE EFFECTIVITY OF THE PRICE CONTROL LAW TO JUNE 30, 1979

WHEREAS, Section 11 of Republic Act No. 6361, otherwise known as the Price Control Law, as amended by Presidential Decree No. 737, provides that this law shall expire on June 30, 1977;

WHEREAS, there is an urgent need to extend the effectivity of the law in line with the policy to prevent monopoly, hoarding, injurious speculation, manipulation and profiteering with respect to the supply, distribution and marketing of prime commodities and

WHEREAS, the amount of One Hundred Thousand (P100,000.00) Pesos provided under Section 9 of Republic Act No. 6361 for personnel services for a full year has become insufficient to secure an effective implementation of the Price Control Law;

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 decree:

Section 1. The effectivity of Republic Act No. 6361, otherwise known as the...

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Extension of Price Control Law

- The effectivity of Republic Act No. 6361, known as the Price Control Law, is extended until June 30, 1979. (Section 1)
- The amount allotted for personnel services is increased from ₱100,000.00 for a full year to ₱300,000.00. (Section 1)
- The additional amount necessary for the operation of the Council up to 1979 is appropriated from the National Treasury. (Section 1)
- Any inconsistent provisions of law, decree, executive order, or regulation are repealed, amended, or modified accordingly. (Section 2)
- The Decree takes effect immediately. (Section 3)