WHEREAS, the modification in the rate of import duty will provide affordable raw material inputs which are not locally available;

WHEREAS, the reduction in the cost of raw materials would benefit local industries;

WHEREAS, Section 401 of the Tariff and Customs Code of 1978 (Presidential Decree No. 1464), as amended, empowers the President of the Republic of the Philippines to increase, reduce, or remove existing rates of import duty, as well as to modify the form of duty and the tariff nomenclature, under Section 104 of the Code;

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

Section 1. The articles specifically listed in the Annex^* hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be subject to the Most-Favoured-Nation (MFN) rate of import duty in accordance with the schedule indicated opposite each article.

Section 2. The rates of import duty on tariff headings and subheadings not enumerated and those listed but represented by the symbol œx x x  shall remain in force and effect.

Section 3. Upon the effectivity of this Executive Order, all articles specifically listed in the aforesaid œAnnex ^* which are entered and withdrawn from warehouses in the Philippines for consumption shall be levied the MFN rates of duty as indicated therein.

Section 4. All other Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent or contrary with this Executive Order are hereby revoked or modified accordingly.

Section 5. This Executive Order shall take effect thirty (30) days following its complete publication in the Official Gazette or in a newspaper of general circulation in the Philippines.

(SGD.) GLORIA M. ARROYO

By the President:

(SGD.) LEANDRO R. MENDOZA
  Executive Secretary

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