WHEREAS, Section 11 of Republic Act No. 6361, otherwise known as the Price Control Law, as amended by Presidential Decree No. 234, provides that this law shall expire on June 30, 1975; and

WHEREAS, there is an urgent need to extend the effectivity of the law in line with the policy to prevent monopoly, hoarding, injurious speculation, manipulation and profiteering with respect to the supply, distribution and marketing of prime commodities;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and pursuant to the economic and social development programs of the Government, do hereby extend the effectivity of Republic Act No. 6361, otherwise known as the Price Control Law, up to June 30, 1977.

Any provision of law, executive order or regulation inconsistent herewith is hereby repealed or modified accordingly.

This Decree is hereby made part of the law of the land and shall take effect immediately.

Done in the City of Manila, this 30th day of June, in the year of Our Lord, nineteen hundred and seventy-five.