EXECUTIVE ORDER NO. 862 December 22, 1982
SUSPENDING THE EXPORT DUTY AND PREMIUM DUTY ON CENTRIFUGAL SUGAR AND MOLASSES
WHEREAS, the sugar and molasses industries are, at present, in a distressed condition due to unfavorable market prices and escalating production costs;
WHEREAS, in view of the depressed condition of the industries concerned, there are no windfall profits to be generated from the export of sugar and molasses;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by Section 515 of Presidential Decree No. 1464, as amended, and upon the recommendation of the National Economic and Development Authority, do hereby order and direct that the export duty and premium duty on centrifugal sugar and molasses be suspended.
This Order shall take effect immediately.
Done in the City of Manila, this 22nd day of December, in the Year of Our Lord, nineteen hundred and eighty-two.
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Executive Orders
Suspending the Export Duty and Premium Duty on Centrifugal Sugar and Molasses
Executive Order No. 862
Summary of Executive Order No. 862
Suspension of Export Duty and Premium Duty on Centrifugal Sugar and Molasses
- The sugar and molasses industries are in a distressed condition due to:
- Unfavorable market prices.
- Escalating production costs.
- There are no windfall profits to be generated from the export of sugar and molasses.
- The President of the Philippines, Ferdinand E. Marcos, orders and directs:
- The export duty and premium duty on centrifugal sugar and molasses be suspended.
- This order is based on the powers vested in the President by Section 515 of Presidential Decree No. 1464, as amended.
- This order is upon the recommendation of the National Economic and Development Authority.
- This order shall take effect immediately.
Suspension of Export Duty and Premium Duty on Centrifugal Sugar and Molasses
- The sugar and molasses industries are in a distressed condition due to:
- Unfavorable market prices.
- Escalating production costs.
- There are no windfall profits to be generated from the export of sugar and molasses.
- The President of the Philippines, Ferdinand E. Marcos, orders and directs:
- The export duty and premium duty on centrifugal sugar and molasses be suspended.
- This order is based on the powers vested in the President by Section 515 of Presidential Decree No. 1464, as amended.
- This order is upon the recommendation of the National Economic and Development Authority.
- This order shall take effect immediately.