WHEREAS, importation of wheat for food is not subject to quantitative restrictions;

WHEREAS, Executive Order No. 313 increased the rate of duty on said commodity to 50%;

WHEREAS, it is necessary to revert the tariff rate thereon to its previous level;

WHEREAS, Sec. 401 of the Tariff and Customs Code of 1978 (Presidential Decree No. 1464), as amended, empowers the President to increase, reduce, or remove existing protective rates of import duty, including any necessary changes in classification, as well as to modify the form of duty upon the recommendation of the National Economic Development Authority;

NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. The rates of import duty under heading no. 1001.90 90 of the Harmonized System (HS) Tariff and Customs Code of the Philippines are amended to read as follows:

SEC. 2. Upon the effectivity of this Executive Order, the abovementioned articles which are entered into or withdrawn from warehouses in the Philippines for consumption shall be levied the rates of duty herein prescribed.

SEC. 3. All Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revoked or modified accordingly.

SEC. 4. This Executive Order shall take effect immediately following its complete publication in two (2) newspapers of general circulation in the Philippines.

DONE in the City of Manila, this 23rd day of April in the Year of our Lord, Nineteen Hundred Ninety-Six.

(Sgd.) FIDEL V. RAMOS
President of the Philippines

By the President:

(Sgd.) RUBEN D. TORRES
Executive Secretary