Grant of Government Subsidy to National Steel Corporation
Letter of Instructions No. 1250, issued on June 26, 1982, mandates the Minister of the Budget to allocate a government subsidy equivalent to the taxes, duties, and fees collected from the National Steel Corporation's importation of tinplates and related products necessary for the domestic liquid milk industry. This subsidy aims to support the processing and sale of milk under the government's socialized pricing scheme. Future import volumes will be determined by an Executive Committee of the National Economic and Development Authority (NEDA), and the Iron and Steel Authority will oversee the importation and distribution of these materials. Additionally, measures are in place to prevent local milk processors from using the imported materials as a justification for raising milk prices.
Quick Answers
- What is Grant of Government Subsidy to National Steel Corporation about?
- Letter of Instructions No. 1250, issued on June 26, 1982, mandates the Minister of the Budget to allocate a government subsidy equivalent to the taxes, duties, and fees collected from the National Steel Corporation's importation of tinplates and related products necessary for the domestic liquid milk industry. This subsidy aims to support the processing and sale of milk under the government's socialized pricing scheme. Future import volumes will be determined by an Executive Committee of the National Economic and Development Authority (NEDA), and the Iron and Steel Authority will oversee the importation and distribution of these materials. Additionally, measures are in place to prevent local milk processors from using the imported materials as a justification for raising milk prices.
- What type of law is Letter of Instructions No. 1250?
- Grant of Government Subsidy to National Steel Corporation (Letter of Instructions No. 1250) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Grant of Government Subsidy to National Steel Corporation enacted?
- Grant of Government Subsidy to National Steel Corporation (Letter of Instructions No. 1250) was enacted on Jun 26, 1982.
- What is the citation for Grant of Government Subsidy to National Steel Corporation?
- Grant of Government Subsidy to National Steel Corporation, Letter of Instructions No. 1250, Jun 26, 1982 (Philippines)
Law Information
- Reference Number
- Letter of Instructions No. 1250
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 26, 1982
LETTER OF INSTRUCTIONS NO. 1250
| TO | : | The Minister of the Budget |
| The Chairman, Iron and Steel Authority | ||
| The Director-General, National Economic and Development Authority | ||
| The Commissioner, Bureau of Customs |
1. The Minister of the Budget is hereby directed to set aside from the current budget, a government subsidy equivalent to the taxes, duties and fees which will have been collected from the importations by the National Steel Corporation, a government-controlled corporation, of 8,471 MT of tinplates, 6,360 MT of tinmill blackplates and 64 MT of tin ingots required by the domestic liquid milk industry to process milk and sell the same in accordance with the socialized pricing scheme of the government for basic commodities as recommended by the NEDA.
2. A similar government subsidy shall also be set aside by the Minister of the Budget for subsequent importations of tinplates, tinmill blackplates and tin ingots by the National Steel Corporation, provided, however, that the volume to be imported shall be determined by an Executive Committee of the NEDA Board created for this purpose to be composed of the Prime Minister, the Minister of Trade and Industry and the Director-General of the NEDA in consultation with the Iron and Steel Authority.
3. The above-mentioned subsidy shall be granted to the National Steel Corporation through the Iron and Steel Authority. cdt
4. The importations of the above-mentioned tinplates, tinmill blackplates and tin ingots by the National Steel Corporation shall be under the supervision of the Iron and Steel Authority.
5. As per the recommendation of the NEDA, the National Steel Corporation may be allowed to distribute the imported tinplates to local milk processors, also under the supervision of the Iron and Steel Authority.
6. The Chairman of the Iron and Steel Authority shall see to it that the above importation of tinplates shall not be used by the local milk processors as a basis for increasing the price of milk considering the cost difference between imported and locally manufactured tinplates.
DONE in the City of Manila, this 26th day of June, in the year of Our Lord, Nineteen Hundred and Eighty-Two.
Cite This Law
Grant of Government Subsidy to National Steel Corporation, Letter of Instructions No. 1250, Jun 26, 1982 (Philippines)
Grant of Government Subsidy to National Steel Corporation, Letter of Instructions No. 1250 (Phil. 1982)
Related Laws
- Grant of Government Subsidy to National Steel Corporation for Importation of TinplatesLetter of Instructions No. 989 • Feb 16, 1980 • Presidential Issuances
- Grant of Subsidy to the Iron and Steel Authority for Importation of TinplatesLetter of Instructions No. 719 • Jul 11, 1978 • Presidential Issuances
- Implementation of Integrated Steel Mill Project of National Steel CorporationLetter of Instructions No. 1277 • Nov 16, 1982 • Presidential Issuances
- Grant of Subsidy to the Iron and Steel Authority for Importation of TinplatesLetter of Instructions No. 787 • Dec 22, 1978 • Presidential Issuances
- Allocation of Government Subsidy for Importation of Tinplates by the Iron and Steel AuthorityLetter of Instructions No. 910 • Aug 9, 1979 • Presidential Issuances
- Transfer in Absolute Ownership of MV "Philippine Admiral" to National Steel CorporationLetter of Instructions No. 203 • Jul 16, 1974 • Presidential Issuances
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