WHEREAS, the National Tripartite Conference on Wages, Employment and Labor Relations held in Tagaytay City on 25-27 May 1978 has recommended the non-inflationary and early upward adjustment of existing statutory minimum wages in the country;

WHEREAS, the same Conference has urged the implementation of its recommendation taking into consideration the imperatives of development, cost of living, productivity, employment, balance of payments, price stability, the competitiveness of Philippine products in the world market, and industrial peace;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree the following:

SECTION 1. Presidential Decree 928 is hereby amended by increasing all existing statutory minimum wages in the country by THREE PESOS (P3.00) spread equally over a period of three years, as follows: 1) ONE PESO (P1.00) starting July 1, 1978; 2) ONE PESO (P1.00) starting May 1, 1979; and 3) ONE PESO (P1.00) starting May 1, 1980.

SECTION 2. Employment-intensive cottage industries engaged in the manufacture of local raw materials primarily for export shall be exempted from this decree during the first three years of its operations.

SECTION 3. The Secretary of Labor shall promulgate rules and regulations for the effective implementation of this decree.

Done in the City of Manila this 29th day of May 1978.

			(Sgd.) FERDINAND E. MARCOS President of the Philippines
	By the President:
	(Sgd.) JUAN C. TUVERA
		Presidential Assistant