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[ LETTER OF INSTRUCTIONS NO. 485, December 03, 1976 ]
EXEMPTING THE IMPORTATION OF CRUDE OIL BY THE PHILIPPINE NATIONAL OIL COMPANY FROM THE OPERATION OF LETTER OF INSTRUCTIONS No. 444.
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 |
WHEREAS, the importation of crude oil by the Philippine National Oil Company iron: 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 importations 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.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
President of the Philippines