SECTION 1.       Rate of Interim Increase — Pursuant to CPA Board Resolution No. 296-98 of the Cebu Port Commission, dated 26 July 1998, the United South Dockhandlers, Inc. (USDI) is hereby granted an interim increase of 21.6% of the existing domestic cargo handling charges per Schedule of Restructured Cargo Handling Tariff (For Domestic Cargoes) attached hereto as Annex “A”^* .

SECTION 2.       Application for Rates Increase — Other duly licensed cargo handling operators who wish to apply for rate increase shall submit to the Authority their 1997 Income Statements, Balance Sheets, SSS Remittances (employer’s share), schedule showing the salaries, and benefits paid to the Internal Control Unit of the Authority for evaluation. Provided, That, an interim increase shall be given only to those who are complying with the minimum wage laws.

SECTION 3.       Approval of Increase — Final approval of all requests for rates increase shall be made by the General Manager and confirmed by the Board of Commissioners.

SECTION 4.       Repealing Clause — All previous issuances inconsistent therewith are hereby repealed, amended or modified accordingly.

SECTION 5.       Effectivity — This circular shall be published twice (once a week) and shall take effect fifteen (15) days after its last publication.

Adopted: 24 July 1998

APPROVED:

(SGD.) ENGR. DENNIS R. VILLAMOR
Officer-In-Charge

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^* See Appendix 1