LETTER OF INSTRUCTIONS NO. 989, February 16, 1980

[ LETTER OF INSTRUCTIONS NO. 989, February 16, 1980 ]

TO: The Minister of the Budget The Chairman, Iron and Steel Authority

The Minister of the Budget is hereby directed to set aside from the current budget, a government subsidy equivalent to the taxes, duties and fees which would have been collected from the importation by the national Steel Corporation, a government-controlled corporation, of up to 29,000 MT of tinplates required by the domestic milk industry to process milk and sell the same in accordance with the socialized pricing scheme of the government for basic commodities as recommended by the National Economic and Development Authority and the Iron and Steel Authority.

The above-mentioned subsidy shall be granted to the National Steel Corporation through the Iron and Steel Authority.

The importation of the above-mentioned tinplates by the National Steel Corporation shall be under the supervision of the Iron and Steel Authority.

The National Steel Corporation may be allowed to distribute the imported tinplates to local milk processors in accordance with an allocation to be determined by and under the supervision of the Iron and Steel Authority.

Done in the City of Manila, this 16th day of February, in the year of Our Lord, nineteen hundred and eighty.

(Sgd.) FERDINAND E. MARCOS President of the Philippines