Adjusting the Price Ceiling of Cement
On March 23, 1979, President Ferdinand E. Marcos issued Letter of Instructions No. 834, which adjusted the price ceiling of cement to P20.00 per 40-kilo bag, ex-factory. This decision was prompted by rising production costs, including oil price hikes and adjustments in water, power rates, and minimum wages, which posed challenges for cement manufacturers. The adjustment aimed to encourage cement production and ensure a stable supply, following recommendations from various governmental and private entities. The new price ceiling was approved by the NEDA Board and the Cabinet during discussions on achieving price and wage equilibrium.
Law Information
- Reference Number
- Letter of Instructions No. 834
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
March 23, 1979
LETTER OF INSTRUCTIONS NO. 834
| TO | : | The Chairman |
| Price Stabilization Council | ||
| All Concerned | ||
| SUBJECT | : | Adjusting the Price Ceiling of Cement to P20.00 Per 40 Kilo Bag, Ex-Factory |
WHEREAS, the increases in the cost of production have brought serious difficulties to cement manufacturers to continue to supply this commodity under the present price ceiling; cd
WHEREAS, the recent and scheduled oil price hike, the water and power rate adjustments, and the minimum wage increase will aggravate these problems;
WHEREAS, in order to encourage the production of cement and to maintain its supply, the NEDA Board and the Cabinet, in a series of meetings and discussions on the establishment of an equilibrium of prices, income and wages have approved on March 14, 1979 the adjustment of the price ceiling of cement to P20.00 per 40 kilo bag, ex-factory; cd
WHEREAS, this adjustment of price ceiling for cement has long been recommended by numerous studies by the Ministry of Industry (MI), the Philippine Cement Industry Authority (PCIA), the Price Stabilization Council (PSC) and even a private firm, Sycip Gorres and Velayo; cd i
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and direct the adjustment of the price ceiling of cement to P20.00 per 40 kilo bag, ex-factory. casia
DONE in the City of Manila, this 23rd day of March, in the year of Our Lord, Nineteen Hundred and Seventy-Nine.
Cite This Law
Adjusting the Price Ceiling of Cement, Letter of Instructions No. 834, Mar 23, 1979 (Philippines)
Adjusting the Price Ceiling of Cement, Letter of Instructions No. 834 (Phil. 1979)
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