Pursuant to PPA Memorandum Circular No. 05-2008, the vessel-related (stevedoring) tariff on foreign container handling services at South Harbor and MICT was increased as follows:

1st Tranche-5% increase on the rates that are in effect since 18 January 2008 per PPA Operations Memorandum Circular No. 01-2008, with said increase to take effect thirty (30) days after the publication of this Circular in a newspaper of general circulation,

2nd Tranche - 7% increase effective 01 January 2009 on the rates that are in effect since 18 January 2008 per PPA Operations Memorandum Circular No. 01-2008 (a total of 12% increase over the 18 January 2008 tariff rates); Provided, however that a review shad be conducted prior to the implementation of the 7% increase.

Attached therefore is the revised schedule of cargo handling tariff at MICT and South Harbor^* incorporating therein the 5% increase on vessel-related (stevedoring) foreign cargo handling services.

Adopted: 12 Mar. 2008

(SGD.) BENJAMIN B. CECILIO
AGM for Operations

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^* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.