WHEREAS, the Board of Investments has approved the application for registration of Elizalde Steel Rolling Mills, Inc. and Iligan Integrated Steel Mills, Inc., for the cold-rolling of flat steel products as a preferred pioneer industry;

WHEREAS, studies conducted by said Board indicates that this project, to be feasible, needs post-operative protection against competing imported items;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, upon the recommendation of the Board of Investments, and pursuant to the provisions of Section 8(c) of Republic Act No. 5186, otherwise known as the Investment Incentives Act, do hereby certify that the production in the Philippines of cold-rolled steel black sheets, as a preferred pioneer industry, shall be entitled to a post-operative tariff protection in the form of increased customs duties on cold-rolled black sheets, (cold-rolled steel sheets and coils) subject to the condition that at any time during their effectivity, the post-operative tariff rates may be modified in accordance with Section Four hundred One of the Tariff and Customs Code, whenever there is a finding that the existing conditions in the industry warrant such modification.

SECTION 1. The articles specifically listed hereunder as classified under Section 104 of Republic Act Number Nineteen Hundred Thirty-Seven shall pay the following rates of import duty:
 

Tariff         Heading No.	Description of Articles	Rate of         Duty
73.12	Hoop and strip of iron and steel, hot-rolled or cold-rolled;
	A. Cold-rolled hoop and Strip of Steel	ad val. 40%
	B. Other	ad val. 7 %
73.13	Sheets and plates of iron or steel, hot-rolled or cold-rolled;
	A. xxxxxxxxxxxx
	B. Cold-rolled black sheets excluding enameling iron sheets when imported directly by enameling ware manufacturers certified as such by both the National Economic Council and the Tariff Commission	ad val. 40%
	C. Other	ad val. 20%

SECTION 2. Upon the expiration of thirty (30) days from the issuance of this Order, all the above-described articles entered or withdrawn from warehouse in the Philippines for consumption shall be subject to the rates of import duty herein above-prescribed.

SECTION 3. Any unwarranted increase in the prices of local products benefited by these tariff changes shall constitute ground for the modification of these post-operative tariff rates.

The Board of Investments shall take the proper representations with the Tariff Commission for appropriate action.

Done in the City of Manila, this 31st day of August, in the year of Our Lord, nineteen hundred and seventy-one.


By the President:

(SGD.) ALEJANDRO MELCHOR
Executive Secretary