WHEREAS, most of the sugar centrals in the Philippines are still undertaking the rehabilitation of their facilities, including the buildings and dwelling houses of their laborers, which were damaged during the last war, and are incurring heavy expenditures for this purpose;

WHEREAS, some of these centrals have been operating at a loss, and others at profits which are inconsiderable; and

WHEREAS, the imposition of the additional progressive taxes on these centrals would be unduly oppressive and, in a few instances, even confiscatory in effect;

NOW, THEREFORE, I, Ramon Magsaysay, President of the Philippines, do hereby waive the additional progressive taxes to be paid by proprietors and operators of the following sugar mills for the 1953-1954 crop under section 2 of Commonwealth Act No. 567:

1. Asturias Sugar Central, Inc.
2. Bogo-Medellin Milling Co., Inc.
3. Central Azucarera Don Pedro
4. Central Azucarera del Norte
5. Hind Sugar Company
6. Ormoc Sugar Company, Inc.

subject to the condition that in the case of the Asturias Sugar Central, Inc., the amount waived, as hereby authorized, shall be paid over to the planters.

Done in the City of Manila, this 3rd day of March, in the year of Our Lord, nineteen hundred and fifty-five, and of the Independence of the Philippines, the ninth.

(Sgd.) RAMON MAGSAYSAY
President of the Philippines

By the President:
(Sgd.) FRED RUIZ CASTRO
Executive Secretary