Grant of Government Subsidy to National Steel Corporation for Importation of Tinplates
Letter of Instructions No. 989, issued on February 16, 1980, directs the Minister of the Budget to allocate a government subsidy equivalent to the taxes, duties, and fees that would have been collected from the National Steel Corporation's importation of 29,000 MT of tinplates. This subsidy is aimed to support the domestic milk industry in processing milk under the government's socialized pricing scheme. The Iron and Steel Authority is tasked with supervising the importation and distribution of the tinplates to local milk processors. The distribution will follow an allocation plan determined by the Iron and Steel Authority.
February 16, 1980
LETTER OF INSTRUCTIONS NO. 989
| TO | : | The Minister of the Budget |
| The Chairman, Iron and Steel Authority |
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 would have been collected from the importation by the National Steel Corporation, a government-controlled corporation, of up to 29,000 MT of tinplates required by the domestic 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 National Economic and Development Authority and the Iron and Steel Authority. aisa dc
2. The above-mentioned subsidy shall be granted to the National Steel Corporation through the Iron and Steel Authority.
3. The importation of the above-mentioned tinplates by the National Steel Corporation shall be under the supervision of the Iron and Steel Authority.
4. The National Steel Corporation may be allowed to distribute the imported tinplates to local milk processors in accordance with an allocation to be determined by and under the supervision of the Iron and Steel Authority.
DONE in the City of Manila, this 16th day of February, in the year of Our Lord, Nineteen Hundred and Eighty. acd