Amendment to E.O. No. 920 (s. 1983) Re: Levy of Export Duty on Certain Export Products

July 24, 1984

EXECUTIVE ORDER NO. 974

FURTHER AMENDING EXECUTIVE ORDER NO. 920, SERIES OF 1983 ENTITLED "LEVYING AN EXPORT DUTY ON CERTAIN EXPORT PRODUCTS IN ADDITION TO THE EXPORT DUTIES PROVIDED FOR UNDER PD NO. 1464, AS AMENDED, ON OTHER EXPORT PRODUCTS"

WHEREAS, Executive Order No. 920, Series of 1983, was promulgated as a stabilization measure to redistribute gains in the export sector generated by the adjustment in the exchange rate of the peso;

WHEREAS, the competitive position of Philippine shrimp industry, a new but struggling export industry, has been adversely affected by such export duty;

WHEREAS, in view thereof, there is an urgent need to temporarily alleviate the plight of Philippine shrimp exporters and thereby enhance the viability and sustain Philippine shrimp exports in the world market;

NOW, THEREFORE, I , FERDINAND E. MARCOS, President of the Philippines, pursuant to the powers vested in me by the Constitution and the authority vested in me by Section 514 of Presidential Decree No. 1464, as amended, do hereby direct and order that imposition of export duty on shrimp, as provided in Executive Order No. 920, Series of 1983, as amended, is hereby temporarily suspended.

This Executive Order shall take effect immediately.

DONE in the City of Manila, this 24th day of July, in the year of Our Lord, Nineteen Hundred and Eighty-Four.